MIRA INFORM REPORT
|
Report No. : |
356908 |
|
Report Date : |
28.12.2015 |
IDENTIFICATION DETAILS
|
Name : |
BAODING TIANPENG IMP. & EXP. GROUP CORP., LTD. |
|
|
|
|
Registered Office : |
No. 149, Baihua East Road, Baoding, Hebei Province 071051 Pr |
|
|
|
|
Country : |
China |
|
|
|
|
Financials (as on) : |
30.06.2015 |
|
|
|
|
Date of Incorporation : |
07.12.1995 |
|
|
|
|
Com. Reg. No.: |
130600000024811 |
|
|
|
|
Legal Form : |
Limited Liability Company |
|
|
|
|
Line of Business : |
Importing and exporting commodities and technologies, excluding the
goods controlled to export by the government and the goods controlled to
import by the companies with authorization from the government; wholesaling
coal. Cargo transport agency business (limited branch operation); selling
hardware, electrical, needle textile, clothing, bags, shoes, caps, wire and
cable, electronic products, machinery and equipment and accessories, kitchen
supplies, household goods, office supplies, stationery, handicrafts,
construction materials, edible agricultural products, non-ferrous metals
material. |
|
|
|
|
No. of Employee : |
50 |
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 : |
Slow but correct |
|
|
|
|
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
and address
BAODING TIANPENG IMP. & EXP. GROUP CORP., LTD.
NO. 149, BAIHUA EAST ROAD, BAODING, HEBEI PROVINCE 071051 PR CHINA
TEL: 86 (0) 312-5951869
FAX: 86 (0) 312-5906775
EXECUTIVE
SUMMARY
Date of Registration : DECEMBER 7, 1995
REGISTRATION NO. : 130600000024811
LEGAL FORM : Limited Liability Company
REGISTERED CAPITAL : CNY 10,000,000
staff : 50
BUSINESS CATEGORY : TRADING
REVENUE : CNY 366,980,000
(FROM JAN. 1, 2015 TO JUN. 30, 2015)
EQUITIES : CNY 14,140,000
(AS OF JUN. 30, 2015)
WEBSITE : www.tianpeng.com.cn
E-MAIL : sales@tianpeng.com.cn
PAYMENT : AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : fairly stable
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.46 = USD 1
AS OF 2015-12-28
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 registration No.: 130600000024811
on December 7, 1995.
SC’s Organization Code Certificate No.:
10597369-3
SC’s registered capital: CNY 10,000,000
SC’s paid-in capital: CNY 10,000,000
Registration Change Record:-
No significant changes of SC have been noted
in SAIC since its incorporation.
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Baoding Tianpeng Metals & Minerals,
Machinery & Equipment Co., Ltd. |
59 |
|
Baoding Tianpeng Stock Poultry Fruits
& Vegetables Exp. Co., Ltd. |
21 |
|
Baoding Textiles, Arts & Crafts Export
Company |
15 |
|
Baoding Garments Export Company |
5 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative and Chairman |
Guo Shutian |
|
General Manager |
Hao Jingdong |
|
Director |
Liu Zhansheng |
|
Supervisor |
Yu Xiaojin |
|
Yang Shulin |
|
|
Lu Yingjie |
RECENT
DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name %
of Shareholding
Baoding Tianpeng Metals & Minerals,
Machinery & Equipment Co., Ltd. 59
Baoding Tianpeng Stock Poultry Fruits &
Vegetables Exp. Co., Ltd. 21
Baoding Textiles, Arts & Crafts Export
Company 15
Baoding Garments Export Company 5
Baoding Tianpeng
Metals & Minerals, Machinery & Equipment Co., Ltd.
----------------------------------------------------------------------------------------------
Date of Registration: February 7, 1990
Registration No.: 130600000024838
Registered Capital: CNY 1,100,000
Baoding Tianpeng
Stock Poultry Fruits & Vegetables Exp. Co., Ltd.
---------------------------------------------------------------------------------------
Date of Registration: June 12, 1994
Registration No.: 130600000040513
Registered Capital: CNY 855,000
Baoding Textiles,
Arts & Crafts Export Company
------------------------------------------------------------------
Date of Registration: February 1, 1989
Registration No.: 130600100001727
Registered Capital: CNY 1,700,000
Baoding Garments
Export Company
-------------------------------------------------
Date of Registration: February 1, 1989
Registration No.: 130600100003146
Registered Capital: CNY 950,000
MANAGEMENT
Guo Shutian, Legal Representative and Chairman
----------------------------------------------------------------------------
Ø
Gender: M
Ø
Age: 61
Ø Qualification:
University
Ø Working experience
(s):
At present, working in SC as legal
representative and chairman
Hao
Jingdong, General Manager
------------------------------------------------------
Ø
Gender: M
Ø Qualification:
University
Ø Working experience
(s):
At present, working in SC as general manager
Director
----------
Liu Zhansheng
Supervisor
--------------
Yu Xiaojin
Yang Shulin
Lu Yingjie
BUSINESS
OPERATION
SC’s registered business scope includes importing and exporting
commodities and technologies, excluding the goods controlled to export by the
government and the goods controlled to import by the companies with
authorization from the government; wholesaling coal. Cargo transport agency
business (limited branch operation); selling hardware, electrical, needle
textile, clothing, bags, shoes, caps, wire and cable, electronic products, machinery
and equipment and accessories, kitchen supplies, household goods, office
supplies, stationery, handicrafts, construction materials, edible agricultural
products, non-ferrous metals material. (the items allowed by laws,
administrative regulations or State Council, with permit if needed)
SC is mainly
engaged in international trade.
SC’s products
mainly include: machinery products, textiles garments, metallic tool, mineral
products, chemical products, light industrial products, cereals, oil and foodstuffs,
etc.
SC sources the products 95% from domestic market, and 5% from overseas market. SC sells 5% of its products in domestic market, and 95% to overseas market, mainly USA, Europe, Mid East, Southeast Asia, etc.
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.
*Major Customers:
==============
Royal Metals
Products Corp
Ged International
Inc.
Yimei
International SA De Cv
Cm International
Ind. Corp.
Ethem SA De Cv
Foto Industrias Sa
De Cv
Dubose Industries
Inc.
Staff & Office:
--------------------------
SC is known
to have approx. 50 staff at present.
SC rents an area
as its operating office, but the detailed information is unknown.
RELATED
COMPANY
SC is known to have 3
subsidiaries at present:
Baoding Shimaotong Enterprises Service Co., Ltd.
Xichang East Farm Co., Ltd.
Baoding Tianpeng Beifang Foreign Trade Co., Ltd.
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
Basic Bank:
China Construction Bank Baoding Chengjian Sub-branch
AC#: 13001668808050500828
FINANCIALS
Financial Summary
|
Unit: CNY’000 |
As
of Jun. 30, 2015 |
|
Total assets |
220,370 |
|
|
------------- |
|
Total
liabilities |
206,230 |
|
Equities |
14,140 |
|
|
------------- |
|
Unit: CNY’000 |
From Jan. 1, 2015 to Jun. 30, 2015 |
|
Revenue |
366,980 |
|
Profits |
120 |
Important Ratios
=============
|
|
As
of Jun. 30, 2015 |
|
*Liabilities
to assets |
0.94 |
|
*Net profit
margin (%) |
0.03 |
|
*Return on
total assets (%) |
0.54 |
|
*Revenue/Total
assets |
1.67 |
FINANCIAL
COMMENTS
PROFITABILITY:
AVERAGE
l The revenue of SC
appears fairly good 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 average.
Overall financial
condition of the SC: Fairly Stable.
CONCLUSIONS
SC is considered medium-sized in its line with fairly stable financial
conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.20 |
|
|
1 |
Rs.98.30 |
|
Euro |
1 |
Rs.72.41 |
|
CNY |
1 |
Rs.10.20 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
ANK |
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.