MIRA INFORM REPORT
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Report No. : |
335646 |
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Report Date : |
08.08.2015 |
IDENTIFICATION DETAILS
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Name : |
HANGZHOU JIPUSI ADVANCED MATERIALS CO., LTD. |
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Registered Office : |
Room 302, Unit 2,
Building 1, Guali Kechuang Garden No. 38, Xin'an Road, Guali Town, Xiaoshan
District Hangzhou, Zhejiang Province 311241 pr |
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Country : |
China |
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Date of Incorporation : |
28.11.2014 |
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Com. Reg. No.: |
330181000475238 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Subject includes
technology R&D of chemical fiber new material; import and export of goods
and technology; online sales: Pearl and pearl products. |
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No. of Employee : |
8 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New business |
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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 – March 31, 2015
|
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.
|
Source
: CIA |
company
name and address
HANGZHOU JIPUSI ADVANCED MATERIALS CO., LTD.
ROOM 302, UNIT 2,
BUILDING 1, GUALI KECHUANG GARDEN
NO. 38, XIN'AN ROAD,
GUALI TOWN, XIAOSHAN DISTRICT
HANGZHOU, ZHEJIANG
PROVINCE 311241 PR CHINA
TEL: 86 (0)
571-57163718
FAX: 86 (0)
571-57161672
EXECUTIVE
SUMMARY
Date
of Registration :
november 28, 2014
REGISTRATION
NO. :
330181000475238
LEGAL
FORM : Limited Liability Company
REGISTERED
CAPITAL : CNY 3,000,000
staff :
8
BUSINESS
CATEGORY : TRADING
Revenue :
N/A
EQUITIES :
N/A
WEBSITE : N/A
E-MAIL :
info@hzjipusi.com
PAYMENT
:
unknown
MARKET
CONDITION :
fair
FINANCIAL
CONDITION : N/A
OPERATIONAL
TREND : FAIR
GENERAL
REPUTATION : FAIR
EXCHANGE
RATE : CNY
6.21 = 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.: 330181000475238
on November 28, 2014.
SC’s Organization Code Certificate No.: 32188732-7
SC’s Tax No.: 330181321887327
SC’s registered capital: CNY 3,000,000
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:-
|
Name of
Shareholder (s) |
% of
Shareholding |
|
Yan Yongchao |
33.34 |
|
Lu Shuiming |
33.33 |
|
Qian Jianmiao |
33.33 |
SC’s Chief
Executives:-
|
Position |
Name |
|
Legal Representative, Chairman and General Manager |
Yan Yongchao |
|
Supervisor |
Qian Jianmiao |
RECENT
DEVELOPMENT
No recent
development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name %
of Shareholding
Yan Yongchao 33.34
Lu Shuiming 33.33
Qian Jianmiao 33.33
MANAGEMENT
Yan Yongchao, Legal
Representative, Chairman and General Manager
-------------------------------------------------------------------------------------------------------
Ø Gender: M
Ø Qualification:
University
Ø Working experience
(s):
At present, working in SC as legal
representative, chairman and general manager
Supervisor
--------------
Qian Jianmiao
BUSINESS
OPERATION
***Note:
SC started its normal operation in March 2015.
SC’s registered
business scope includes technology R&D of chemical fiber new material;
import and export of goods and technology; online sales: Pearl and pearl
products.
SC is mainly
engaged in trading of goods
SC’s products mainly include: POY, DTY, FDY,
Twist Yarn, Thread and Special Yarns.
SC sources the products 100% from domestic market, mainly Zhejiang. SC
sells 100% of its products 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.
Staff
& Office:
--------------------------
SC is known to have approx. 8 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 the 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 in
2014, SC started its normal operation in March 2015, so its financials are not
available at present.
CONCLUSIONS
SC is considered
small-sized in its line with a short business history. Great caution is
required in providing credit to SC and C.O.D. is recommended.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.81 |
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|
1 |
Rs.98.93 |
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Euro |
1 |
Rs.69.66 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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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 |
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<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.