MIRA INFORM REPORT
|
Report No. : |
356219 |
|
Report Date : |
26.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
HEBEI SHENGTIAN GROUP SEAMLESS STEEL PIPE CO., LTD |
|
|
|
|
Registered Office : |
Xindian Road Section, Cangyan Road, Mengcun Hui Autonomous County,
Cangzhou, Hebei Province, 061400 Pr |
|
|
|
|
Country : |
China |
|
|
|
|
Date of Incorporation : |
08.03.1998 |
|
|
|
|
Com. Reg. No.: |
130930000002935 |
|
|
|
|
Legal Form : |
Limited Liabilities Co. |
|
|
|
|
Line of Business : |
·
Subject is mainly engaged in manufacturing,
processing and selling of various kinds of seamless steel pipes. ·
API seamless steel pipe, oil casing, medium and low
pressure boiler tube, boiler tube, big sized tubes. |
|
|
|
|
Employees: |
350 |
|
|
|
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
China |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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 & ADDRESS
HEBEI
SHENGTIAN GROUP SEAMLESS STEEL PIPE CO. LTD.
XINDIAN ROAD SECTION, CANGYAN ROAD, MENGCUN HUI AUTONOMOUS
COUNTY, CANGZHOU, HEBEI PROVINCE, 061400 PR CHINA
TEL: 86 (0) 317-6871699
FAX: 86 (0) 317-6886781
EXECUTIVE
SUMMARY
INCORPORATION DATE :
MAR. 8, 1998
REGISTRATION NO. :
130930000002935
REGISTERED LEGAL FORM : LIMITED
LIABILITIES CO.
CHIEF EXECUTIVE :
MR. FAN XILIN (LEGAL REPRESENTATIVE)
STAFF STRENGTH :
350
REGISTERED CAPITAL : CNY 10,270,000
BUSINESS LINE :
MANUFACTURING, PROCESSING AND SELLING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
UNKNOWN
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.4820 = 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 belongs to SC’s Cangzhou office and the business address of SC
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 Mar. 8, 1998.
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 processing and sales of seamless
steel pipe, pipe fittings, flange, reducer, seamless steel tube piercing; import
and export business of goods and technology, except the goods and technologies
limited or forbidden by the state.
SC is mainly engaged in manufacturing,
processing and selling of various kinds of seamless steel pipes.
Mr. Fan Xilin is the legal representative,
executive director and general manager of SC at present.
SC is known to have approx. 350 employees at present.
SC is currently operating at the above stated address, and this address
houses its operating office and factory in Cangzhou. The detailed information
of the premise is unspecified.
www.stpipes.com The design is professional and the content is
well organized. At present the web site is in English and Spanish versions.
Email: stpipes@stwfgg.com
Changes of its
registered information:
|
Date of change |
Item |
Before the
change |
After the change |
|
2015-8-17 |
Shareholders & shareholdings (%) |
Fan Xichun 15.00% Fan Xilin 18.98% Fan Xisheng 15.00% Hebei Shengtian Pipe-fitting Group Co.,
Ltd. 51.02% |
Present ones |
Organization Code: 601641241
See below for SC
as executive party (defendant).
|
Executed Party |
SC |
|
Court |
Mengcun County People's Court |
|
Date of Case |
2012-1-16 |
|
Case Number |
(2012) 00030 |
|
Claim Amount |
RMB 70,822.63 |
|
Case Status |
Completed |
Remark: Due to the lack of
information, we are unable to provide the cause of action, judgment or other
information.
MAIN SHAREHOLDERS:
Name Amount (CNY) % of Shareholding
Fan Xilin 7,190,000 70.01
Fan Xichun 3,080,000 29.99
Legal
representative, Executive Director and general manager:
Mr. Fan Xilin 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;
Also working in Mengcun Hui Autonomous County Shengtian Science &
Technology Small Loan Co., Ltd. (literal translation) as legal representative.
Supervisor:
Fan Xichun
SC is mainly engaged in manufacturing, processing and selling of various
kinds of seamless steel pipes.
SC’s products mainly include: API seamless steel pipe, oil casing,
medium and low pressure boiler tube, boiler tube, big sized tubes, etc.
SC sources its materials 100% from domestic market. SC sells 60% of its
products in domestic market, and 40% 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.
TRADEMARKS &
PATENTS
Registration No. 1725546
Registration Date 2002-3-7
Trademark Design 
Hebei
Shengtian Pipe-fitting Group Co., Ltd.
-------------------------------------
Incorporation Date: 1998-11-6
Registered No.: 130000000006134
Legal Representative: Zhang Peihua
SC’s Cangzhou
Office
Room 906, Jichun Building, Huanghe Xi Road, Yunhe District, Cangzhou,
Hebei China
Tel: 86-317-2049276
Fax: 86-317-5200769
SC
is known to invest in the following company:
Mengcun Hui
Autonomous County Shengtian Science & Technology Small Loan Co., Ltd.
(literal translation)
----------------------------------------------------------------
Incorporation Date: 2013-1-23
Registered No.: 130930000007490
Legal Representative: Mr. Fan Xilin
Etc.
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.
SC’s management declined to release any financial information.
SC is considered medium-sized in its line with a development history of
17 years. Due to lack of financial statements, we are unable to determine the
maximum credit limit for SC.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.65 |
|
|
1 |
Rs.99.61 |
|
Euro |
1 |
Rs.72.33 |
|
CNY |
1 |
Rs.10.23 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
SANS |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively below
average. |
Small |
|
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 |
|
-- |
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.