MIRA INFORM REPORT
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Report No. : |
356179 |
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Report Date : |
24.12.2015 |
IDENTIFICATION DETAILS
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Name : |
SHANGHAI NEWFIELD INFORMATION SYSTEM CO., LTD. |
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Registered Office : |
31/f, Zhongguancun Science And Technology Building, No. 2911, North Zhongshan Road, Putuo District, Shanghai, 200063 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
10.11.1999 |
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Com. Reg. No.: |
310227000580675 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Subject engaged in technology development, technology consulting,
technology transfer and technology services in the field of computer software
and hardware and network system integration; computer maintenance;
communication engineering; import and export of goods and technologies;
wholesaling and retailing communications equipment, hardware, instrument,
general mechanical equipment, office equipment, medical machinery with Class
I, air purification and disinfection equipment, general merchandise, building
and decoration materials (excluding the hazard products) and metal materials. |
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No. of Employee : |
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 : |
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.
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Source
: CIA |
Company name
and address
Shanghai Newfield Information System Co.,
Ltd.
31/f, Zhongguancun Science and Technology Building,
no. 2911,
north zhongshan road, putuo district, shanghai,
200063 PR CHINA
TEL: 86 (0) 21-61423099/61423098 FAX: 86 (0) 21-61423010
EXECUTIVE
SUMMARY
INCORPORATION DATE :
nov. 10, 1999
REGISTRATION NO. :
310227000580675
REGISTERED LEGAL FORM : LIMITED
LIABILITIES COMPANY
CHIEF EXECUTIVE :
MR. zeng junwei (legal representative)
STAFF STRENGTH :
N/A
REGISTERED CAPITAL :
CNY 5,100,000
BUSINESS LINE :
software design and development
TURNOVER :
CNY 24,588,000 (AS OF DEC. 31, 2014)
EQUITIES :
CNY 6,405,000 (AS OF DEC. 31, 2014)
PAYMENT :
SLOW BUT CORRECT
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION :
fairly STABLE
OPERATIONAL TREND :
STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.4765 =
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:
SC’s complete address should be the heading one.
SC
was registered as a limited liabilities co. at local Administration for
industry & commerce (AIC - the official body of issuing and renewing
business license) on Nov. 10, 1999.
Company Status: Limited liabilities co.
This form of business in PR China
is defined as a legal person. No more than fifty shareholders contribute its
registered capital jointly. Shareholders bear limited liability to the extent
of shareholding, and the co. is liable for its debts only to extent of its
total assets. The characteristics of this form of co. are as follows:
Upon
the establishment of the co., an investment certificate is issued to the each
of shareholders.
The
board of directors is comprised of three to thirteen members.
The
minimum registered capital for a co. is CNY 30,000.
Shareholders
may take their capital contributions in cash or by means of tangible assets or
intangible assets such as industrial property and non-patented technology.
Cash
contributed by all shareholders must account for at least 30% of the registered
capital.
Existing
shareholders have pre-exemption right to purchase shares of the co. offered for
sale by the other shareholders and to subscribe for the newly increased
registered capital of the co.
SC’s
registered business scope includes technology development, technology
consulting, technology transfer and technology services in the field of
computer software and hardware and network system integration; computer
maintenance; communication engineering; import and export of goods and
technologies; wholesaling and retailing communications equipment, hardware,
instrument, general mechanical equipment, office equipment, medical machinery
with Class I, air purification and disinfection equipment, general merchandise,
building and decoration materials (excluding the hazard products) and metal
materials. (with permit if needed)
SC
is mainly engaged in design, development and maintenance of computer software.
Mr.
Zeng Junwei is legal representative and executive director of SC at present.
SC’s
number of employees is not available at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in the commercial zone of Shanghai. The detailed information
of the premise is unspecified.
http://www.newfis.com
The design is professional and the content is well organized. At present it is
in both Chinese and English versions.
Email:
zjw1@newfis.com
No
significant events or changes were found during our checks with the local
Administration for Industry and Commerce.
Organization
Code: 134550358
See below for SC as executive party
(defendant).
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Executed Party |
SC |
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Court |
Shanghai City Songjiang District People's Court |
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Date of Case |
2012-10-11 |
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Case Number |
(2012) 05571 |
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Claim Amount |
RMB 45,164.1 |
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Case Status |
-- |
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Executed Party |
SC |
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Court |
Shanghai City Putuo District People's Court |
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Date of Case |
2015-07-07 |
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Case Number |
(2015) 02638 |
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Claim Amount |
RMB 30,386.72 |
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Case Status |
-- |
Remark:
Due to the lack of information, we are unable to provide the cause of action,
judgment or other information.
MAIN
SHAREHOLDERS:
Name Investment amount (CNY’000) % of Shareholding
Li
Jian 400 7.85
Ye
Huan 960 18.82
Zeng
Junwei 3,280 64.31
Huang
Xiao 460 9.02
Legal representative and executive director:
Mr.
Zeng Junwei is currently responsible for the overall management of SC.
Working
Experience(s):
At
present Working in SC
as legal representative and executive director
Also
working in Shanghai Newfield Information System Co., Ltd. Putuo Branch as
principal
Supervisor:
Ye
Huan
SC
is mainly engaged in design, development and maintenance of computer software.
Type
of services:
Industry
Application Consulting
The
implementation of application
IT
outsourcing services
Application
systems support
Software
system test
SC
sources its materials 100% from domestic market. SC sells its products in
domestic market, and to 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’s management declined to release its customer and supplier details.
Trademark
& Patents
N/A
SC
is known to have a branch at present:
Shanghai
Newfield Information System Co., Ltd. Putuo Branch
-----------------------------------------------------------------------------
Registered
no.: 310107000689612
Principal:
Zeng Junwei
Date
of incorporation:
SC
is known to have the following subsidiary at present:
Shanghai
Newfield System Integration Co., Ltd.
-----------------------------------------------------------
Registered
no.: 310115001815887
Credibility
Code: 91310000572741306B
Legal
representative: Huang Xiao
Date
of incorporation:
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.
SC’s
management declined to release its bank details.
Financial Summary
===============
Unit:
CNY’000
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As of Dec. 31, 2013 |
As of Dec. 31, 2014 |
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Total liabilities |
7,204 |
13 |
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Equities |
6,387 |
6,405 |
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-------------------- |
-------------------- |
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Total assets |
13,591 |
6,418 |
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============= |
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Turnover |
31,519 |
24,588 |
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Profit before tax |
18 |
19 |
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Less: profit tax |
5 |
2 |
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Profits |
13 |
17 |
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Note: SC’s management refused to release its detailed financial
reports.
Important Ratios
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As of Dec. 31, 2013 |
As of Dec. 31, 2014 |
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*Liabilities to assets |
0.53 |
0.002 |
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*Net profit margin (%) |
0.04 |
0.07 |
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*Return on total assets (%) |
0.10 |
0.26 |
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*Turnover/Total assets |
2.32 |
3.83 |
PROFITABILITY: AVERAGE
The turnover of SC appears average in its line in both
years and it decreased in 2014.
SC’s
net profit margin is average in both years.
SC’s
return on total assets is average in both
years.
SC’s
turnover is in an average level in 2013 but in a fairly good level in 2014,
comparing with the size of its total assets.
LEVERAGE: AVERAGE
The
debt ratio of SC is average in 2013 but low in 2014.
The
risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly stable.
SC
has been in its line for 16 years with fairly stable financial conditions.
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
|
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.10.18 |
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 : |
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.