MIRA INFORM REPORT
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Report No. : |
356284 |
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Report Date : |
24.12.2015 |
IDENTIFICATION DETAILS
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Name : |
HENGSHUI YUANCHEM TRADING LTD. |
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Registered Office : |
1-402, Yangguanghuacheng Comprehensive Building, South Of Hongda Road,
Wuyi County, Hengshui, Hebei Province, 053400 Pr |
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Country : |
China |
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Date of Incorporation : |
30.03.2015 |
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Com. Reg. No.: |
131102000033924 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
Wholesaling, retailing, importing and exporting chemical products
(excluding toxic, precursor chemicals, danger, controlled chemicals), metal products,
computers and auxiliary equipment, auto parts, building materials, metal
materials |
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No. of Employee : |
2 |
RATING & COMMENTS
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MIRA’s 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 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
HENGSHUI YUANCHEM TRADING
ltd.
1-402, YANGGUANGHUACHENG comprehensive
BUILDING, SOUTH OF HONGDA ROAD, WUYI COUNTY, HENGSHUI, HEBEI PROVINCE, 053400
PR CHINA
TEL: 86 (0) 318-2375996 FAX: 86 (0) 318-2375996
EXECUTIVE
SUMMARY
INCORPORATION DATE : MAR. 30, 2015
REGISTRATION NO. : 131102000033924
REGISTERED LEGAL FORM : ONE-PERSON LIMITED LIABILITY COMPANY
CHIEF EXECUTIVE : MS. DONG HONGLING (CHAIRMAN)
STAFF STRENGTH : 2
REGISTERED CAPITAL : CNY 500,000
BUSINESS LINE :
TRADING
TURNOVER : n/a
EQUITIES : n/a
PAYMENT : UNKNOWN
MARKET CONDITION : FAIR
FINANCIAL CONDITION : UNDETERMINED
OPERATIONAL TREND : SUBJECT
TO LONGER PERIOD OF OBSERVATION
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.4787= 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
Note: the “No. 365 Xinhua Street Hengshui City Hebei PR China” was SC’s
former address, while SC has moved to the heading one.
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 Mar. 30, 2015.
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 wholesaling, retailing,
importing and exporting chemical products (excluding toxic, precursor
chemicals, danger, controlled chemicals), metal products, computers and auxiliary
equipment, auto parts, building materials, metal materials (with permit if
needed)
SC has not started its normal operation yet.
Ms. Dong Hongling has been legal
representative, chairman and general manager of SC since March of 2015.
SC is known to have approx. 2 employees at present.
SC is currently operating at the above stated address, and this address
houses its operating office in Wuyi County. SC’s management declined to release
detailed information of the premise.
http://www.eonyz.com
The design is professional and the content is well organized. At present it is
in English version.
E-mail: sales@eonyz.com
; eonyznc@gmail.com
No significant changes were found during our checks with the local
Administration for Industry and Commerce.
SC has not started its normal operation yet.
Tax registration no.: 131122335912693
Organization code: 33591269-3
Credibility code: 91131122335912693D
There is no record of litigation till now.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Dong Hongling 100
Legal
Representative, Chairman and General Manager:
Ms. Dong Hongling is currently responsible for the overall management of
SC.
Working
Experience(s):
From March of 2015 to present Working
in SC as legal representative, chairman and general manager
Supervisor:
Qiu Xianping
SC has not started its normal operation yet. According to SC’s
management Ms. Dong Hongling, SC will be mainly engaged in trading different
kinds of products.
According to SC’s
website:
Hengshui Jianmin Nitrocellulose Co., Ltd.
=============================
Incorporation date: 2010-08-17
Registration no.: 131122000003896
Registered capital: CNY 10,600,000
Legal rep.: Dong Jianmin
Web: www.hsjmxws.com
Tel: 0318-5939618
Fax: 0318-5938968
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: None in our database.
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.
SC’s management declined to release the bank information of SC.
SC was established in March of 2015, and has not started its normal operation
yet, so its financial reports are not available at present.
Established in March of 2015, SC has not started its normal operation
yet. Credit dealings with SC are recommended under secured terms at present.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.20 |
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|
1 |
Rs.98.30 |
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Euro |
1 |
Rs.72.41 |
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CNY |
1 |
Rs.10.19 |
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 : |
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 |
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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.