MIRA INFORM REPORT
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Report No. : |
354012 |
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Report Date : |
11.12.2015 |
IDENTIFICATION DETAILS
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Name : |
JIANGYIN NANWEI INTERNATIONAL TRADE CO., LTD. |
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Registered Office : |
North Section, Shashan Road, Shashan Industrial Zone Zhouzhuang Town,
Jiangyin, Jiangsu Province 214423 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
12.12.2006 |
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Com. Reg. No.: |
320281000162483 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Import and export of various goods and technologies, but excluding the
good prohibited or limited by the country. |
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Employees: |
6 |
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 : |
Small Company |
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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.
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 People’s 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.
|
Source
: CIA |
company
name and address
JIANGYIN NANWEI INTERNATIONAL TRADE CO., LTD.
NORTH SECTION, SHASHAN ROAD, SHASHAN INDUSTRIAL ZONE ZHOUZHUANG TOWN,
JIANGYIN, JIANGSU PROVINCE 214423 PR CHINA
TEL: 86 (0) 510-86901536/86235628/86237663
FAX: 86 (0) 510-86237628
***Note: The (No 7
Yumen East Road, Zhou Zhuang Town, Jiangyin Jiangsu) was SC’s former one, while
SC is operating in the heading address.
EXECUTIVE
SUMMARY
Date of Registration : decEMBER 12, 2006
REGISTRATION NO. : 320281000162483
LEGAL FORM : Limited Liability Company
CHIEF EXECUTIVE :
GU CHANGFA (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL : CNY 5,000,000
staff :
6
BUSINESS CATEGORY : TRADING
Revenue :
CNY 108,990,000 (AS OF DEC. 31, 2014)
EQUITIES :
CNY 3,440,000 (AS OF DEC. 31, 2014)
WEBSITE : N/A
E-MAIL :
N/A
PAYMENT :
SLOW BUT CORRECT
MARKET CONDITION : average
FINANCIAL CONDITION : fairly stable
OPERATIONAL TREND : Ordinary
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.42 = 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.: 320281000162483 on December 12, 2006.
SC’s Organization Code Certificate No.:
79614950-4
SC’s Tax No.: 320281796149504
SC’s registered capital: CNY 5,000,000
SC’s paid-in capital: CNY 5,000,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
-- |
Registration No. |
3202812128938 |
320281000162483 |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Gu Changfa |
70 |
|
Cao Yongming |
30 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman and General Manager |
Gu Changfa |
|
Supervisor |
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RECENT
DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name %
of Shareholding
Gu Changfa 70
Cao Yongming 30
MANAGEMENT
Gu Changfa, Legal Representative, Chairman and General
Manager
---------------------------------------------------------------------------------------------------
Gender: M
Age: 57
ID# 320219195810193536
Qualification: University
Working experience
(s):
At present, working in SC as legal representative, chairman and general
manager
Supervisor
--------------
***Note: The given
contact person JESICA is working in SC at present.
BUSINESS
OPERATION
SC’s registered business scope includes import and export of various
goods and technologies, but excluding the good prohibited or limited by the
country.
SC is mainly engaged in exporting advertisement materials and textile
materials.
SC’s products mainly include: PVC ink, advertisement materials.
SC sources the products 100% from domestic market, mainly Jiangsu. SC sells 100% of its products to overseas market, mainly India, Brazil, Indonesia, etc.
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.
*Major Customers:
==============
Crown Fabric Co.
Triple Ocho, S.A. De C.V.
Speed Tex, S.A. De C.V.
Roman Y Asociados Srl
Jasmine Corporation
Import Chan Xu Eirl
*Major Suppliers:
==============
Jiangyin Jiangdong Plastic Co., Ltd.
Jiangyin Jiangdong Nanhua Plastic Co., Ltd.
Staff &
Office:
--------------------------
SC is known to have approx. 6
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’s suppliers declined to make any
comments.
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
Basic Bank:
Bank of China Jiangyin Branch Zhouzhuang Sub-branch
AC#: 42745508091001
Agricultural Bank of China Jiangsu Branch Jiangyin Sub-branch
AC#: 10643314040010215
FINANCIALS
Financial Summary
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Unit: CNY’000 |
As of Dec. 31,
2013 |
As of Dec. 31,
2014 |
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Total assets |
34,360 |
35,940 |
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------------- |
------------- |
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Total liabilities |
31,410 |
32,500 |
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Equities |
2,950 |
3,440 |
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------------- |
------------- |
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Revenue |
175,520 |
108,990 |
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Profit before tax |
-1,470 |
500 |
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Less: profit tax |
0 |
0 |
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Profits |
-1,470 |
500 |
Important Ratios
=============
|
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As of Dec. 31,
2013 |
As of Dec. 31,
2014 |
|
*Liabilities to assets |
0.91 |
0.90 |
|
*Net profit margin (%) |
-0.84 |
0.46 |
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*Return on total assets (%) |
-4.28 |
1.39 |
|
*Revenue/Total assets |
5.11 |
3.03 |
FINANCIAL
COMMENTS
PROFITABILITY:
AVERAGE
The revenue of SC appears fairly good in its line.
SC’s net profit margin is average in 2014.
SC’s return on total assets is average in 2014.
LIQUIDITY: AVERAGE
SC’s revenue is in an average level, comparing with the size of its
total assets.
LEVERAGE: FAIR
The debt ratio of SC is fairly high.
The risk for SC to go bankrupt is above average.
Overall financial
condition of the SC: Fairly Stable.
CONCLUSIONS
SC is considered small-sized in its line with fairly stable financial
conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.79 |
|
|
1 |
Rs.101.37 |
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Euro |
1 |
Rs.73.46 |
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CNY |
1 |
Rs.10.36 |
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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KAR |
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Report Prepared
by : |
SDA |
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 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.