MIRA INFORM REPORT
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Report No. : |
354247 |
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Report Date : |
22.12.2015 |
IDENTIFICATION DETAILS
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Name : |
TIANJIN TIANRUI WEISHENG SPORTS APPARATUS CO., LTD |
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Registered Office : |
No. 1 Yingyu Road, Yinhe Village, Xiyingmen Xiqing
District, Tianjin 061000 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
26.03.2008 |
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Com. Reg. No.: |
911201116737030342 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
Manufacturing, processing and selling fitness equipment,
bicycles, electric bicycles and parts, metal products; selling mechanical and
electrical products, machinery and equipment; investment advisory service;
goods import and export. |
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No. of Employee : |
42 |
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 : |
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
TIANJIN
TIANRUI WEISHENG SPORTS APPARATUS CO., LTD
NO. 1 YINGYU ROAD, YINHE VILLAGE, XIYINGMEN
XIQING DISTRICT, TIANJIN 061000 PR CHINA
TEL: 86 (0) 22-87718192
FAX: 86 (0) 22-27795065
EXECUTIVE
SUMMARY
Date of Registration : march 26, 2008
UNIFIED SOCIAL CREDIT CODE : 911201116737030342
LEGAL FORM : Limited
Liability Company
REGISTERED CAPITAL : CNY 500,000
staff : 42
BUSINESS CATEGORY : MANUFACTURING & TRADING
Revenue : CNY 43,820,000
(AS OF DEC. 31, 2014)
EQUITIES : CNY 940,000 (AS OF DEC. 31, 2014)
WEBSITE : www.trbicycle.com
E-MAIL : trwsbike@trbicycle.com
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 unified social credit code: 911201116737030342.
SC’s Organization Code Certificate
No.: 67370303-4
SC’s Tax No.: 120111673703034
SC’s registered capital: CNY 500,000
SC’s paid-in capital: CNY 500,000
Registration Change Record:
|
Date |
Change of Contents |
Before the change |
After the change |
|
-- |
Registration No./Unified
Social Credit Code |
120111000017977 |
911201116737030342 |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Ye Weichong |
70 |
|
Liu Na |
30 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative,
Chairman, and General Manager |
Liu
Na |
|
Supervisor |
Xie
Jing |
RECENT
DEVELOPMENT
No recent development was found during our checks at
present.
SHAREHOLDER
CHART & BACKGROUND
Name
%
of Shareholding
Ye Weichong 70
Liu Na 30
MANAGEMENT
Liu
Na, Legal Representative,
Chairman and General Manager
------------------------------------------------------------------------------------------
Ø
Gender: F
Ø
Age: 35
Ø
ID# 120104198003281528
Ø Qualification:
University
Ø Working
experience (s):
At present, working in SC as
legal representative, chairman and general manager
Supervisor
--------------
Xie Jing
BUSINESS
OPERATION
SC’s registered business scope includes
manufacturing, processing and selling fitness equipment, bicycles, electric
bicycles and parts, metal products; selling mechanical and electrical products,
machinery and equipment; investment advisory service; goods import and export.
SC is
mainly engaged in manufacturing and selling fitness equipment, bicycles,
electric bicycles and parts.
Brand:
TRWS
SC’s
products mainly include:
BMX
Bicycle
Specal
Painting Bmx
Mountain
Bicycle
Alloy
Mtb Bicycle
City
Bicycle
Beach
Cruiser Bicycle
Folding
Bicycle
Road
Bicycle
Etc.
SC sources its materials 100% from domestic market, mainly Tianjin. SC sells 30% of its products in domestic market, and 70% to overseas market.
The
buying terms of SC include Check, T/T and Credit of 30-60 days. The payment
terms of SC include T/T, L/C and Credit of 30-60 days.
Staff & Office:
--------------------------
SC is
known to have approx. 42
staff at present.
SC rents
an area as its operating office and factory, 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
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.
BANKING
The
bank information of SC is not filed in SAIC.
FINANCIALS
Financial
Summary
|
Unit:
CNY’000 |
As of Dec. 31, 2013 |
As of Dec. 31, 2014 |
|
Total
assets |
16,590 |
15,710 |
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|
------------- |
------------- |
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Total
liabilities |
15,760 |
14,770 |
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Equities |
830 |
940 |
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------------- |
------------- |
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Revenue |
39,440 |
43,820 |
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Profit
before tax |
160 |
180 |
|
Less:
profit tax |
40 |
40 |
|
Profits |
120 |
140 |
Important
Ratios
=============
|
|
As of Dec. 31, 2013 |
As of Dec. 31, 2014 |
|
*Liabilities
to assets |
0.95 |
0.94 |
|
*Net
profit margin (%) |
0.30 |
0.32 |
|
*Return
on total assets (%) |
0.72 |
0.89 |
|
*Revenue/Total
assets |
2.38 |
2.79 |
FINANCIAL
COMMENTS
PROFITABILITY:
AVERAGE
l The
revenue of SC appears average in its line.
l SC’s
net profit margin is average.
l SC’s
return on total assets is average.
LIQUIDITY:
AVERAGE
l
SC’s revenue is in an average level,
comparing with the size of its total assets.
LEVERAGE:
FAIR
l
The debt ratio of SC is fairly high.
l
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.66.32 |
|
|
1 |
Rs.98.99 |
|
Euro |
1 |
Rs.72.13 |
|
CNY |
1 |
Rs.10.23 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
KAS |
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Report Prepared
by : |
ANK |
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 |
|
<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.