MIRA INFORM REPORT
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Report No. : |
355479 |
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Report Date : |
21.12.2015 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Room 1403, Unit Ding, No. 333 Hanjiang Road, Xinbei District, Changzhou City, Jiangsu Province, 213022 Pr |
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Country : |
China |
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Date of Incorporation : |
27.05.2009 |
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Com. Reg. No.: |
320407000117523 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
Subject includes retailing pre-packaged food; selling chemical raw
materials and products (involving dangerous chemicals with operating
permits), clothing, footwear, computer and accessories, textiles, lighting,
appliances, hardware, electrical, rubber products, general machinery and
accessories; self-support and agent
importing and exporting goods and technology |
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No. of Employees : |
Not Available |
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 : |
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
CHANGZHOU YANGGA
INTERNATIONAL CO., LTD.
room 1403, unit
ding, no. 333 hanjiang road, xinbei district,
changzhou city,
jiangsu province, 213022 PR CHINA
TEL: 86 (0)
13961432662 FAX: 86 (0)
519-85305015
EXECUTIVE
SUMMARY
INCORPORATION DATE :
MAY 27, 2009
REGISTRATION NO. : 320407000117523
REGISTERED LEGAL FORM : ONE-PERSON LIMITED LIABILITY COMPANY
STAFF STRENGTH : N/A
REGISTERED CAPITAL : CNY 510,000
BUSINESS LINE :
TRADING
TURNOVER : N/A
EQUITIES : N/A
PAYMENT : AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE : CNY 6.4809 = 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 One-person Limited Liability Company at local
Administration for Industry & Commerce (AIC - The official body of issuing and
renewing business license) on May 27, 2009.
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 retailing
pre-packaged food; selling chemical raw materials and products (involving
dangerous chemicals with operating permits), clothing, footwear, computer and
accessories, textiles, lighting, appliances, hardware, electrical, rubber
products, general machinery and accessories; self-support and agent importing and exporting goods and technology
(except goods and technology prohibited by the State) (with permit if needed)
SC is mainly
engaged in selling various kinds of lighting electrical appliance.
Ms. Sun Zairu is
legal representative of SC at present.
SC’s management
declined to disclose its employee information.
SC
is currently operating at the above stated address, and this address houses its
operating office in the development zone of Changzhou city. The detailed
information of the premise is unspecified.
http://www.yang-ga.com/
The design is professional and the content is well organized. At present it is in
both Chinese and English versions.
Email: sun@yang-ga.com
No significant changes were found during our checks with the local
Administration for Industry and Commerce.
Organization code: 690251789
There is no litigation record of SC for the past two years.
MAIN
SHAREHOLDERS:
Name %
of Shareholding
Sun Zairu 100
l Legal Representative,
executive director and general manager:
Ms. Sun Zairu is currently responsible for
the overall and daily management of SC.
Working Experience(s):
At present Working in SC as legal
representative, executive director and general manager.
l Supervisor:
Li Jingjin
SC is mainly
engaged in selling various kinds of lighting electrical appliance.
SC’s products mainly include: led grille lamp series, led spot light, led
down light, led ceiling light, led strip lamp, led bulb, led t5/t8, etc.
SC sources its materials 100% from domestic
market. SC sells its products in domestic market and overseas market.
The buying terms of SC include Check, T/T 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 major clients and suppliers.
Trademarks:
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Trademark |
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Registration No. |
9131771 |
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Registration Date |
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SC is not known to have any subsidiary at present.
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.
N/A
SC’s management
declined to disclose its financial information.
SC has developed for 6 years in its line.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.42 |
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1 |
Rs.99.17 |
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Euro |
1 |
Rs.72.14 |
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CNY |
1 |
Rs.10.22 |
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 : |
NIT |
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 |
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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.