MIRA INFORM REPORT
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Report No. : |
334500 |
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Report Date : |
04.08.2015 |
IDENTIFICATION DETAILS
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Name : |
Beijing Gateway Investment Management Co., Ltd. |
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Registered Office : |
Rm. 1002, 10/f, South
Tower of China Overseas Plaza, No. 8, Guanghua Dongli, Chaoyang
District, Beijing, 100020 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
27.01.2010 |
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Com. Reg. No.: |
110000012607756 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Subject is mainly engaged in investment management and financial
consulting. |
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No. of Employees : |
25 |
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 : |
Slow but correct |
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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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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; (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 2014 more than 274 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 passing legislation to allow local governments to issue bonds, opening several state-owned enterprises to further private investment, loosening the one-child policy, passing harsher pollution fines, and cutting administrative red tape.
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Source
: CIA |
Company
Name and address
Beijing Gateway Investment Management Co., Ltd.
RM. 1002, 10/f,
south tower of china overseas plaza,
no. 8, guanghua
dongli, chaoyang district, beijing, 100020 PR CHINA
TEL: 86 (0)
10-85670868 FAX: 86 (0) 10-85670683
EXECUTIVE
SUMMARY
INCORPORATION DATE : jan. 27, 2010
REGISTRATION NO. : 110000012607756
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH : 25
REGISTERED CAPITAL : CNY 30,000,000
BUSINESS LINE :
investment and consulting
TURNOVER : CNY 2,910,000 (AS OF DEC. 31, 2014)
EQUITIES : CNY 2,760,000 (AS
OF DEC. 31, 2014)
PAYMENT : AVERAGE
MARKET CONDITION : average
FINANCIAL CONDITION : fair
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.21 = 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
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 Jan. 27, 2010.
Company Status: Limited liabilities co. This
form of business in PR China is defined as a legal person. No more than
fifty shareholders contribute its registered capital jointly. Shareholders
bear limited liability to the extent of shareholding, and the co. is liable
for its debts only to extent of its total assets. The characteristics of
this form of co. are as follows: Upon
the establishment of the co., an investment certificate is issued to the
each of shareholders. The
board of directors is comprised of three to thirteen members. The
minimum registered capital for a co. is CNY 30,000. Shareholders
may take their capital contributions in cash or by means of tangible assets
or intangible assets such as industrial property and non-patented
technology. Cash
contributed by all shareholders must account for at least 30% of the
registered capital. Existing
shareholders have pre-exemption right to purchase shares of the co. offered
for sale by the other shareholders and to subscribe for the newly increased
registered capital of the co.
SC’s registered business scope includes investment management and
consulting business of non-securities business. (Not engaged in the following
business: 1. Loans; 2. Traded securities investments publicly or financial
derivatives trading; 3. raise funds publicly; 4. Guarantee for the enterprises
except for the invested enterprise.) (Any project that needs to be approved by
law can only be carried out after getting approval by relevant authorities.)
SC is mainly
engaged in investment management and financial consulting, etc.
Mr.
Wang Donghong is legal representative, chairman and general manager of SC at
present.
SC is known
to have approx. 25 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Beijing. The detailed information of
the premise is unspecified.
SC is not known to host website of its own at present.
Email: yan.chen@txhfund.com
No significant events or changes were found during our checks with the
local Administration for Industry and Commerce.
Organization Code: 694955599
For the past two years there is no record of litigation.
MAIN
SHAREHOLDERS:
Name %
of Shareholding
Xiamen Contemporary Investment Group Co.,
Ltd. (Literal Translation) 80
Xiamen Baichuang Investment Co., Ltd.
(Literal Translation) 20
Xiamen Contemporary Investment Group Co.,
Ltd. (Literal Translation)
======================
Reg. no.: 350200200004304
Legal representative: Wang Chunfang
Incorporation date: 2005-4-18
Xiamen Baichuang Investment Co., Ltd.
(Literal Translation)
==================
Reg. no.: 350200200051059
Legal representative: Bai Xiaoqin
Incorporation date: 2009-8-3
l Legal
representative, Chairman and General manager:
Mr. Wang Donghong is currently responsible
for the overall management of SC.
Working Experience(s):
At present Working in SC as legal
representative, chairman and general manager.
l
Directors:
Cai Lingfang
Gao Ting
l
Supervisor:
Guo Yisheng
SC is mainly
engaged in investment management and financial consulting, etc.
Trademarks & patents: N/A
The buying terms of SC include Check, T/T and Credit of 30-60 days. The
payment terms of SC include Check, T/T and Credit of 30-60 days.
Note: SC’s management declined
to release its customer and supplier details.
Invested companies:
Beijing
Jinfeng Houli Investment Management Center (Limited partnership)
------------------------------------------------------
Reg. no.: 110116016088329
Date of incorporation: 2013-07-12
Beijing Hengfa Liyang Investment Management Center (Limited partnership)
------------------------------------------------------
Reg. no.: 110116016349268
Date of incorporation: 2013-10-10
Suzhou Industrial Park Jingxiu Zhonghe Investment Center (Limited
partnership)
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Reg. no.: 320594000253795
Date of incorporation: 2013-01-17
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.
SC’s management
declined to release its bank details.
Balance Sheet
Unit: CNY’000
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as of Dec. 31, 2014 |
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Cash & bank |
120 |
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Inventory |
0 |
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Accounts receivable |
0 |
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Advances to suppliers |
10 |
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Other receivables |
7,470 |
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Other current assets |
0 |
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------------------ |
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Current assets |
7,600 |
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Fixed assets net value |
210 |
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Projects under construction |
0 |
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Long term investment |
100 |
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Other assets |
30 |
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------------------ |
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Total assets |
7,940 |
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============= |
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Short loans |
0 |
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Accounts payable |
70 |
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Other payable |
1,810 |
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Taxes payable |
60 |
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Accrued payroll |
330 |
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Advances from clients |
2,910 |
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Other current liabilities |
0 |
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------------------ |
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Current liabilities |
5,180 |
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Long term liabilities |
0 |
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------------------ |
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Total liabilities |
5,180 |
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Equities |
2,760 |
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------------------ |
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Total liabilities & equities |
7,940 |
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============= |
Income Statement
Unit: CNY’000
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as of Dec. 31, 2014 |
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Turnover |
2,910 |
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Cost of goods sold |
240 |
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Sales expense |
0 |
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Management expense |
11,870 |
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Finance expense |
0 |
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Profit before tax |
-9,210 |
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Less: profit tax |
0 |
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Profits |
-9,210 |
Important Ratios
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as of Dec. 31, 2014 |
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*Current ratio |
1.47 |
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*Quick ratio |
1.47 |
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*Liabilities to assets |
0.65 |
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*Net profit margin (%) |
-316.49 |
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*Return on total assets (%) |
-115.99 |
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*Inventory /Turnover ×365 |
/ |
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*Accounts receivable/Turnover ×365 |
/ |
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*Turnover/Total assets |
0.37 |
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* Cost of goods sold/Turnover |
0.08 |
PROFITABILITY:
FAIR
l
The turnover of SC appears average in its line.
l
SC’s net profit margin is poor.
l
SC’s return on total assets is poor.
l
SC’s cost of goods sold is low, comparing with its
turnover.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a normal
level.
l
SC’s quick ratio is maintained in a normal level.
l
SC has no inventory in 2014.
l
SC has no accounts receivable in 2014.
l
SC has no short-term loan in 2014.
l
SC’s turnover is in a poor level, comparing with
the size of its total assets.
LEVERAGE: AVERAGE
l
The debt ratio of SC is average.
l
The risk for SC to go bankrupt is average.
Overall financial condition of the SC: Fair.
SC is considered small-sized in its line with fair financial conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.96 |
|
|
1 |
Rs.99.93 |
|
Euro |
1 |
Rs.70.16 |
INFORMATION DETAILS
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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 |
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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.