MIRA INFORM REPORT
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Report No. : |
337283 |
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Report Date : |
21.08.2015 |
IDENTIFICATION DETAILS
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Name : |
HIGH HOPE ZHONGDING CORPORATION |
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Registered Office : |
No. 100 Jianye Road, Nanjing City, Jiangsu Province, 210004 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
15.10.1981 |
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Com. Reg. No.: |
320000000000640 |
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Legal Form : |
Shares Limited Company |
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Line of Business : |
Subject includes security investment and industry investment,
self-management and agent all kinds of goods and technology import and export
business, domestic trading, HR training, storage service, selling fuel oil,
fertilizer and steel products, selling non-ferrous metal and cars.
wholesaling dangerous chemicals, wholesaling coal. |
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No. of Employees : |
370 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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Litigation : |
-- |
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
HIGH HOPE ZHONGDING CORPORATION
NO. 100 JIANYE ROAD, NANJING CITY,
JIANGSU PROVINCE, 210004 PR CHINA
TEL: 86
(0) 25-84468888/58006166 FAX: 86
(0) 25-84208398
EXECUTIVE
SUMMARY
INCORPORATION DATE :
OCTOBER 15, 1981
REGISTRATION NO. : 320000000000640
REGISTERED LEGAL FORM : SHARES LIMITED CO.
STAFF STRENGTH : 370
REGISTERED CAPITAL : CNY 273,592,600
BUSINESS LINE :
TRADE & INVESTMEnT
TURNOVER : CNY 9,646,689,000 (AS OF DEC. 31, 2014)
EQUITIES : CNY 858,493,000
(AS OF DEC. 31, 2014)
PAYMENT : NO COMPLAINTS
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
WELL-KNOWN
EXCHANGE RATE : CNY 6.40=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 Ren Min Bi
SC was registered as a shares limited co. at Jiangsu
Provincial Administration for Industry & Commerce (AIC-The official body of
issuing and renewing business license).
Company Status: Shares limited co. This form of business in PR
China is defined as a legal person. Its registered capital is divided into
shares of equal par value and the co. raises capital by issuing share
certificates by promotion or by public offer. Shareholders bear limited
liability to the extent of shareholding, and the co. is liable for its
debts only to the extent of its total assets. The co has independent
property of legal person and enjoys property rights of legal person. The
characteristics of the shares limited co. are as follows: The establishment of the co.
requires at least two promoters and no more than 200, half of whom shall be
domiciled in The minimum registered capital
of a co. is CNY The board of directors must
consist of five to nineteen directors. If the co. raises capital by
public offer, the promoters must not subscribe less than 35% of the total
shares. the promoters’ shares are restricted to transfer- within one year
of the offer. A state-owned enterprise that is
restructured into a shares limited co. must comply with the conditions
& requirements specified under the law & administrative rule.
SC’s registered business scope includes security investment and industry
investment, self-management and agent all kinds of goods and technology import
and export business, domestic trading, HR training, storage service, selling
fuel oil, fertilizer and steel products, selling non-ferrous metal and cars.
wholesaling dangerous chemicals (if needed with permit), wholesaling coal (if
needed with permit)
SC is mainly
engaged in international trade, investment and management of its subsidiaries.
Mr. Wan Huizhong
has been chairman & legal representative of SC since 2014.
SC is known to
have approximately 370 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Nanjing. The detail information of
the total premise is unspecified.
http://www.jslgroup.com/
The design is professional and the content is well organized. At present the
website is both in Chinese and English versions.
E-mail: jsl@jslgroup.com
See
below for SC as executive party (defendant).
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Executed Party |
High Hope Zhongding Corporation |
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Court |
Nanjing City Qinhuai District People's Court |
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Date of Case |
2015-6-25 |
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Case Number |
(2015) 02349 |
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Claim Amount |
RMB 85,000 |
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Case Status |
-- |
Remark: Due to the lack of information, we are unable to provide the
cause of action, judgment or other information.
Changes
of its registered information:
|
Date of change |
Item |
Before the
change |
After the change |
|
2001-3 |
Chinese name (English name remains the same) |
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2002-2 |
Legal representative |
Yang Yuanfu |
Gu Tianming |
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2005-11 |
Gu Tianming |
Xie Shao |
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2008-9 |
Registered capital |
CNY 129,880,000 |
CNY 194,820,000 |
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2009-7 |
CNY 194,820,000 |
CNY 253,266,000 |
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2010-10 |
CNY 253,266,000 |
CNY 278,592,600 |
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2011-7 |
Company Name |
Jiangsu Light
Industrial Products Import and Export (Group) Corp. |
Present one |
|
Legal
representative |
Xie Shao |
Present one |
|
|
2014-12-9 |
Registered
capital |
CNY 278,592,600 |
Present amount |
|
Shareholding |
Jiangsu High
Hope International Group Co., Ltd. 74.18% Other
shareholders 25.82% |
Jiangsu
High Hope International Group Co., Ltd. 79.99% Other
shareholders 20.01% |
|
|
Unknown |
Registration No. |
3200001101045 |
Present one |
Organization Code:
13476361X
MAIN
SHAREHOLDERS: (As of Dec. 31, 2014)
Name %
of Shareholding
Jiangsu High Hope International Group Co.,
Ltd. 79.99
Jiangsu Provincial Foreign Trade Corporation 0.93
TMC Machinery (Nanjing) Co., Ltd. 0.48
Jiangsu Dingyu Equity Investment Center
(Limited Partnership)
(literal translation) 16.47
Jiangsu Sainty Corp., Ltd. 0.45
Jiangsu Overseas Group Co., Ltd. 0.46
Other shareholders 1.22
Jiangsu High Hope International Group Co.,
Ltd.
===================================
High Hope Group, adhering to the development
principle of larger and stronger main business with appropriate
diversification, has gradually developed three main business sectors in trade,
real estate and investment. By actively forging the broad-trade structure and
establishing extensive economic and trade relationships with over 200 countries
and regions around the world, High Hope has implemented the “Going Global”
strategy and participated in international economic cooperation via multiple
channels.
Registration No.: 320000000002872
Legal representative: Tang Guohai
Website: http://www.high-hope.com/
Email: mail@high-hope.com
Tel: 86 (0) 25-84691000
Fax: 86 (0) 25-84572097
Jiangsu Provincial Foreign Trade Corporation
===============================
Registration no.: 320000000006044
Incorporated date: 1992-7-17
Legal representative: Xia Qiang
Website: http://www.jsft.com/waimao/
Tel: 86 (0) 25-84795777
Fax: 86 (0) 25-84795700
TMC Machinery (Nanjing) Co., Ltd.
===============================
Registration no.: 320100000099467
Incorporated date: 2001-1-8
Legal representative: Sun Xiaoming
Website: http://www.tmc-tools.com ; http://tmc-tools.en.alibaba.com
Tel: 86 (0) 25-84910500
Fax: 86 (0) 25-84910600
Jiangsu Dingyu Equity Investment Center
(Limited Partnership) (literal translation)
===============================
Registration no.: 320000000113443
Incorporated date: 2014-12-4
Executive partner: Wan Huizhong
Jiangsu Sainty Corp., Ltd.
====================
Registration no.: 320000000006614
Incorporated date: 1981-10-21
Legal representative: Yang Qingfeng
Website: http://www.saintycorp.com
Stock code: 600287
Tel: 86 (0) 25-52875628
Fax: 86 (0) 25-84201927
Jiangsu Overseas Group Co., Ltd.
===============================
Registration no.: 320000000008120
Incorporated date: 1995-7-7
Legal representative: Huang Hongliang
Website: http://www.joc-group.com/en/
Tel: 86 (0) 25-84795088
Fax: 86 (0) 25-84795151
l Chairman &
Legal Representative:
Mr. Wan Huizhong, ID#: 32011419640807xxxx,
born in 1964, he is currently responsible for the overall management of SC
Working Experience(s):
Before Worked in SC as general manager
From 2014 to present Working in SC as chairman and
legal representative.
Also working in Jiangsu
Skyrun Travel Service Co., Ltd., FarmaSino Pharmaceuticals (Jiangsu) Co., Ltd.
as legal representative
and Jiangsu Dingyu Equity Investment Center (Limited Partnership) (literal
translation) as executive partner.
l General Manager:
Mr. Bi Jinbiao, ID#:
34030219720702xxxx, born in 1972, he is currently responsible for the daily
management of SC
Working Experience(s):
At present Working in SC as general manager
l Directors:
Wang Yi
Wang Jianying
Fan Zhongfeng
Also working in Jiangsu Skyrun Shipbuilding
& Trading Co., Ltd. as legal representative.
Etc.
l Supervisors:
Yu Hui
Pan Shijie
Etc.
SC is mainly
engaged in international trade, investment and management of its subsidiaries.
SC’s products
mainly include: crafts, t-shirt, toys, stationery, stainless steel tableware,
household appliances, electrical appliances and footwear, etc.
The brands of SC mainly include: “Friendly”,
“JslToys”, “Tiger”, “Giraffe”, “Swallow”, “Panda” and “Timon”.
SC sources its materials 60% from domestic
market, and 40% from Hong Kong, Europe and U.S.A. SC sells 40% of its products
in domestic market, and 60% to overseas market, mainly U.S.A, Europe and
Southeast Asia market.
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.
Note:
SC refused to release its main customers and suppliers.
TRADEMARKS & PATENTS
Registration No.: 11509750
Registration Date: Feb. 21, 2014
Trademark Design:
Registration No.: 7723914
Registration Date: Dec. 7, 2010
Trademark Design:
Registration No.: 4316757
Registration Date: Oct. 7, 2008
Trademark Design: 
SC is known to
have the following subsidiaries:
Jiangsu Skyrun Shipbuilding & Trading Co., Ltd.
===============================
Registration no.: 320000000069703
Incorporated date: 2008-2-14
Legal representative: Fan Zhongfeng
Jiangsu Skyrun Travel Service Co., Ltd.
===============================
Registration no.: 320000000007801
Incorporated date: 1995-3-10
Legal representative: Wan Huizhong
FarmaSino Pharmaceuticals (Jiangsu) Co., Ltd.
===============================
Registration no.: 320000000076867
Incorporated date: 2008-10-17
Legal representative: Wan Huizhong
Etc.
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.
Bank of China Jiangsu Branch
AC#：N/A
Relationship:
Normal.
Financial Summary
Unit: CNY’000
|
|
As
of Dec. 31, 2014 |
As
of Dec. 31, 2013 |
|
Current assets |
8,785,970 |
6,092,812 |
|
Non-current
assets |
564,651 |
770,000 |
|
|
---------------- |
---------------- |
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Total assets |
9,350,621 |
6,862,812 |
|
|
=========== |
=========== |
|
Current
liabilities |
7,919,013 |
5,119,565 |
|
Non-current
liabilities |
573,115 |
1,177,402 |
|
|
---------------- |
---------------- |
|
Total
liabilities |
8,492,128 |
6,296,967 |
|
Equities |
858,493 |
565,845 |
|
|
---------------- |
---------------- |
|
Total
liabilities & equities |
9,350,621 |
6,862,812 |
|
|
=========== |
=========== |
|
Turnover |
9,646,689 |
7,300,168 |
|
Profits |
362,943 |
172,169 |
Note: We did not
find SC’s detailed financial reports.
Important
Ratios
=============
|
|
As
of Dec. 31, 2014 |
As
of Dec. 31, 2013 |
|
*Current ratio
|
1.11 |
1.19 |
|
*Liabilities
to assets |
0.91 |
0.92 |
|
*Net profit
margin (%) |
3.76 |
2.36 |
|
*Return on
total assets (%) |
3.88 |
2.51 |
|
*Turnover/Total
assets |
1.03 |
1.06 |
PROFITABILITY:
AVERAGE
l The turnover of SC
appears good in its line in both years and increased in 2014.
l SC’s net profit
margin appears average in both years.
l SC’s return on total
assets appears average in both years.
LIQUIDITY: AVERAGE
l The current ratio
of SC is maintained in a normal level.
l
SC’s turnover is in an average level in both years,
comparing with the size of its total assets.
LEVERAGE: FAIR
l
The debt ratio of SC is high.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly stable.
SC is considered
medium-sized in its line with fairly stable financial conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.24 |
|
|
1 |
Rs.102.21 |
|
Euro |
1 |
Rs.72.57 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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Report Prepared
by : |
NIT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
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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 |
|
|
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 |
-- |
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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.