MIRA INFORM REPORT
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Report No. : |
351629 |
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Report Date : |
02.12.2015 |
IDENTIFICATION DETAILS
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Name : |
ZHEJIANG ONE TOUCH BUSINESS SERVICE CO., LTD. |
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Registered Office : |
6/F, Building 1, No. 699 Wangshang Road, Binjiang District, Hangzhou, Zhejiang Province, 310052 Pr |
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Country : |
China |
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Date of Incorporation : |
30.07.2014 |
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Com. Reg. No.: |
330108000170076 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
Subject is engaged in trading service. [We tried to confirm / obtain the detailed activity but the same is
not available from any sources] |
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No. of Employee : |
Not Available |
RATING & COMMENTS
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MIRAs 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
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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. 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 for the first time in modern history. Still, China's per capita income is below the world average.
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 Peoples Bank of China (PBOC) doubled the daily trading band within which the RMB is permitted to fluctuate.
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 also 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
ZHEJIANG ONE TOUCH
BUSINESS SERVICE CO., LTD.
6/F, BUILDING 1, NO. 699 WANGSHANG ROAD,
BINJIANG DISTRICT, HANGZHOU, ZHEJIANG
PROVINCE, 310052 PR CHINA (REGISTERED ADDRESS)
TEL: N/A FAX: N/A
EXECUTIVE SUMMARY
INCORPORATION DATE :
JULY 30, 2014
REGISTRATION NO. :
330108000170076
REGISTERED LEGAL FORM :
ONE-PERSON LIMITED LIABILITY COMPANY
STAFF STRENGTH :
N/A
REGISTERED CAPITAL : CNY 10,000,000
REGISTERED BUSINESS LINE : SERVICE
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
UNKNOWN
MARKET CONDITION :
NO RECOMMENDATION
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : NO RECOMMENDATION
GENERAL REPUTATION : NOT
YET DETERMINED
EXCHANGE RATE :
CNY 6.38=USD
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
Note: The given mobile number and
contact person did not belong to SC. Mrs. Gaorie said that she belonged to
Gaocheng Company (she declined to disclose the detailed name). And SC was their
trade agent.
SC was registered as a One-person
Limited Liability Company at local Administration for Industry & Commerce
(AIC-The official body of issuing and renewing business license) on July 30,
2014.
Company
Status: One-person Limited Liability
Company
Single person LLC refers to a limited liability company set up by only
one natural person or legal person as the single shareholder of it.
The minimum registered capital of Single person LLC is CNY100,000. The
shareholders capital contributes, as set out by the articles of associations
should be a lump-sum payment in full.
One natural person can only invest in and set up one limited liability
company, which is not permitted to invest in and set up a new Single person
LLC.
As to any one-person limited liability company, the sole-investor nature
of the natural person or legal person shall be indicated in the registration
documents of the company and shall be indicated in the business license thereof
as well.
The regulation of Single person LLC should be set up by the shareholder
The regulation of Single person LLC has no shareholder meeting.
SCs registered business scope includes service: enterprise management
consulting, economic information consulting (excluding the commodity brokers);
import and export of goods (excluding those prohibited by the law, if needed
with permit); sea, air, land international freight forwarding; technology
development, technology services; electronic commerce technology.
Ms.
Wu Minzhi is registered as legal
representative and executive director of SC at present.
We
could not contact SC. So the nature and extent of the company's operations
could not be determined and it could not be confirmed whether the company
operates from the Registered Office address or in another location.
Exhausting our efforts,
we are unable to find SCs telephone number in various information sources,
including the internet, yellow pages and telecom companies.
SC is not known to have website of its own at present.
There is no record of litigation.
No significant events or changes were found during our checks with the
local Administration for Industry and Commerce.
Organization Code:
311315827
MAIN SHAREHOLDERS:
Name
% of shareholdings
Shenzhen Onetouch Business Service Co., Ltd. 100
Incorporation Date: Dec. 5, 2001
Registration No.: 440301103275393
Registered Legal Form: One-Person Limited Liability
Company
Chief Executive: Mr. Wei Qiang (Legal
Representative)
l
Legal Representative and Executive Director:
Ms. Wu Minzhi,
about 40 years old, with EMBA degree
l General Manager:
Mr. Wei Qiang, in his 30s.
l Supervisor:
Zheng Junfang
Exhausting our
efforts, we are unable to find SCs telephone number in various information sources,
including the internet, yellow pages and telecom companies.
It
is not possible to contact the company directly to obtain further information.
The nature and extent of the company's operations could not be determined.
According to the information from the
internet, we can know that SC is mainly engaged in trading service.
Jiangsu One-Touch Business Service Co., Ltd.
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Registration No.: 320592000047971
Incorporation date: 2010-7-13
Registered Capital: CNY 5,000,000
Legal Representative: Ren Yan
Website: http://www.jsonetouch.com/
Overall payment appraisal:
( ) Excellent (
) Good ( ) Average
( ) Fair (
) Poor (X) 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: N/A
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.
SCs bank details are not available at present.
SC was established in July of 2014, so its
financial statements are not available at present.
Despite having exhausted all our effort, we are unable to contact SC, so
precise credit estimate cannot be made at present. If further contact details of SC can be provided, we will definitely
continue this research.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.52 |
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UK Pound |
1 |
Rs.100.44 |
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Euro |
1 |
Rs.70.44 |
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CNY |
1 |
Rs. 10.41 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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KAS |
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Report Prepared by
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ASH |
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 |
-- |
This score serves as a reference to assess SCs
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.