MIRA INFORM REPORT
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Report No. : |
354563 |
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Report Date : |
15.12.2015 |
IDENTIFICATION DETAILS
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Name : |
SHANGHAI JARI EXTRUSION PLASTIC CO., LTD. |
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Registered Office : |
3/F, Building 2, No. 567 Minqiu Road, Caolu Town, Pudong
New Area, Shanghai, 201209 PR |
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Country : |
China |
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Date of Incorporation : |
20.04.2006 |
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Com. Reg. No.: |
310115000946965 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
Subject engaged in importing and exporting various goods
and technology; selling electromechanical equipment and parts, chemical
products (excluding hazardous chemicals), mineral products (excluding
controlled products), edible agricultural products (excluding pig products),
plastic products, electronic products, instruments, steel materials, building
materials, moulds, articles of daily use, hardware and handicrafts;
consulting services of the above stated business; commercial consulting
(excluding brokers); and freight
forwarding |
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No. of Employee : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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Status : |
Moderate |
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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 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.
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Source
: CIA |
Company
name and address
SHANGHAI JARI EXTRUSION PLASTIC Co., Ltd.
3/F, building 2, no. 567 minqiu road, caolu town, pudong
new area, shanghai, 201209 PR CHINA (REGISTERED ADDRESS)
TEL: N/A FAX:
N/A
EXECUTIVE
SUMMARY
INCORPORATION
DATE : APRIL 20, 2006
REGISTRATION
NO. : 310115000946965
REGISTERED
LEGAL FORM : ONE-PERSON LIMITED LIABILITY COMPANY
CHIEF
EXECUTIVE : MR. CHEN
FANG (LEGAL REPRESENTATIVE)
STAFF STRENGTH :
n/a
REGISTERED
CAPITAL :
CNY 1,000,000
BUSINESS
LINE : N/A
TURNOVER :
n/a
EQUITIES :
n/a
PAYMENT :
UNKNOWN
MARKET CONDITION :
n/a
FINANCIAL CONDITION :
n/a
OPERATIONAL TREND : n/a
GENERAL REPUTATION :
NOT YET
DETERMINED
EXCHANGE RATE :
CNY 6.4305 = 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 Company at local Administration for
Industry & Commerce (AIC - The official body of issuing and renewing
business license) on April 20, 2006, and has been under present ownership since
2011.
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 shareholder’s 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.
SC’s
registered business scope includes importing and exporting various goods and
technology; selling electromechanical equipment and parts, chemical products
(excluding hazardous chemicals), mineral products (excluding controlled
products), edible agricultural products (excluding pig products), plastic
products, electronic products, instruments, steel materials, building materials,
moulds, articles of daily use, hardware and handicrafts; consulting services of
the above stated business; commercial consulting (excluding brokers); and freight forwarding. [with
permit if needed]
Mr.
Chen Fang is registered as legal representative and chairman of SC.
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 and
it could not be confirmed whether the company operates from the Registered
Office address or in another location.
SC
is not known to host website of its own at present.
Changes of its registered information are as follows:
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Date of change |
Item |
Before the change |
After the change |
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2011 |
Legal form |
Limited Liabilities Company |
Present one |
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Legal representative |
Xin Wensheng |
Present one |
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Shareholders & % of shareholding |
Lianyungang Jari Tooling Technology Co., Ltd.60% Xin Wensheng and other 17 individuals 40% |
Lianyungang Jari Tooling Technology Co., Ltd.100% |
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2014-7-8 |
Shareholder’s name |
Lianyungang Jari Tooling Technology Co., Ltd. |
Lianyungang Jari Automation Co., Ltd. |
Tax
registration no.: 310115787859440
Organization
code: 787859440
For
the past two years there is no record of litigation.
MAIN
SHAREHOLDERS:
Name %
of Shareholding
Lianyungang
Jari Automation Co., Ltd. 100
Lianyungang
Jari Automation Co., Ltd. is specialized in plastic extrusion tooling for all
kinds of extrusion profiles.
Incorporation
date: 2002-05-08
Registration
no.: 320791000002742
Registered
capital: CNY 84,400,000
Legal
rep.: Wu Xingdong
Tel:
0086-518-85821056
Fax:
0086-518- 85821686
E-mail:
info@jaritooling.com
Web:
http://www.jaritooling.com
Legal representative and
chairman:
Mr.
Chen Fang (陈方)
Directors:
Gong
Minghua
Zhang
Qidong
Zhai
Burong
Zhou
Mi
Supervisor:
Yang
Zhiwei
SC’s
registered address listed on the AIC is 3/F, Building 2, No. 567 Minqiu Road,
Caolu Town, Pudong New Area, Shanghai. Searches
on the registered address returned no results.
Searches
through internet resulted to the findings of the following contact details
belonging to SC:
Tel:
86-21-68725716/68729716/68726198/68726199/13764316279/13805136093
Among
the above-mentioned contact numbers, nobody answered the tel. no.
(86-21-68725716/68729716) during office hours; the following numbers
(86-21-68726198/68726199) do not exist; and the first mobile phone
(86-13764316279) was out of service, and the second one (86-13805136093) could
not be connected.
We
connected SC’s parent company (86-518-85821056), but nobody know SC’s contact
information.
We
also sent an E-mail to the address “jariextru@gmail.com ”, but nobody answered us
during office hours.
Searches
through the address (Room 301, Building 11, No. 498 Guoshoujing Road, Pudong
New Area, Shanghai), which returned no results.
Exhausting
our efforts, we are unable to find SC’s telephone number in various information
sources, including the internet, yellow pages and telecom companies.
We
are unable to contact SC. Therefore, the nature and extent of SC’s operations
could not be determined.
Shanghai
Jari Extrusion Technology Co., Ltd.
==============================
Incorporation
date: 2002-03-18
Registration
no.: 310115000664884
Registered
capital: CNY 10,000,000
Legal
rep.: Li Hengshao
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.
The
bank information of SC is not available.
Failing
to contact SC, the financial information of SC is not available.
Despite
having exhausted all our effort, we are unable to contact SC, so precise credit
estimate can not be made at present. If
further contact details of SC can be provided, we will definitely continue this
research.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.99 |
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|
1 |
Rs.101.78 |
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Euro |
1 |
Rs.73.47 |
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CNY |
1 |
Rs.10.37 |
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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KIN |
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Report Prepared
by : |
TRU |
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.