MIRA INFORM REPORT
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Report No. : |
306492 |
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Report Date : |
06.02.2015 |
IDENTIFICATION DETAILS
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Name : |
ZTT INTERNATIONAL LTD. |
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Registered Office : |
No. 6
Zhong Tian Road, Economic & Technological Development Zone, Nantong, Jiangsu
Province 226009 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2013 |
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Date of Incorporation : |
11.11.2010 |
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Com. Reg. No.: |
320691000060507 |
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Legal Form : |
One-Person Limited Liabilities Company |
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Line of Business : |
·
Engaged in importing
and Exporting Commodities and Technology; Domestic Trade; Developing and
Manufacturing Cable Products and Equipment; as well as storage. ·
Subject products
ranges include Optical Fiber, Electric Cable, Optical Cable & Submarine
Cable. |
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No of Employees : |
186 (Approximately) |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal commitments. |
Satisfactory |
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Status : |
Satisfactory |
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Payment Behaviour : |
No Complaints |
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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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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.
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 and
expanded the daily trading band within which the RMB is permitted to fluctuate.
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 2013 stood as the second-largest economy in the world after the US, having
surpassed Japan in 2001. The dollar values of China's agricultural and
industrial output each exceed those of the US; China is second to the US in the
value of services it produces. Still, per capita income is below the world
average. 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 2011 more than 250 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.
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Source : CIA |
Company name
& address
ZTT INTERNATIONAL LTD.
no. 6
zhong tian road, economic & technological development zone, Nantong,
jiangsu province 226009 PR CHINA
TEL: 86 (0) 513-83599669/83599721/83599470
FAX: 86 (0) 513-83599670
EXECUTIVE
SUMMARY
Date of Registration : november 11, 2010
REGISTRATION NO. : 320691000060507
LEGAL FORM : one-person Limited liabilities company
CHIEF EXECUTIVE : xue jiping (LEGAL
REPRESENTATIVE)
REGISTERED CAPITAL :
cny 100,000,000
staff : 186 (Approximately)
BUSINESS CATEGORY :
trading
Revenue :
CNY 604,596,000 (AS OF DEC. 31, 2013)
EQUITIES :
CNY 113,542,000 (AS OF DEC. 31, 2013)
WEBSITE : N/A
E-MAIL :
N/A
PAYMENT : No Complaints
MARKET CONDITION : competitive
FINANCIAL CONDITION : stable
OPERATIONAL TREND :
FAIRLY
STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.25 = 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
LEGAL STATUS & HISTORY
SC was
established as one-person limited liabilities company of PRC with State
Administration of Industry & Commerce (SAIC) under registration No.: 320691000060507 on November 11, 2010.
SC’s Organization Code Certificate
No.: 56433850-9
SC’s Tax No.: 320601564338509
SC’s registered capital: cny 100,000,000
SC’s paid-in capital: cny 100,000,000
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 |
|
Jiangsu Zhongtian Technology
Co., Ltd. |
100 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative,
Chairman, and General Manager |
Xue Jiping |
|
Director |
Xue Chi |
|
Qu Zhi |
|
|
Tong Jiangbing |
|
|
Gao Hongshi |
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|
Supervisor |
Xue Xiaoyan |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART & BACKGROUND
Name
%
of Shareholding
Jiangsu Zhongtian Technology
Co., Ltd. 100
-----------------------------------
Date of Registration: February 9, 1996
Registration No.: 320000000013986
Legal Form: Shares Limited Company
Registered Capital: CNY 862,767,523
Jiangsu Zhongtian Technology Co., Ltd. listed in
Shanghai Stock Exchange in October 2002 with the stock number of 600522.
Address: Economic & Technological
Development Zone, Jiangsu Province
Tel: 86 (0) 513-83599505
Fax: 86 (0) 513-83599504
MANAGEMENT
Xue Jiping, Legal Representative, Chairman and General Manager
--------------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
ID# 320623195103184530
Ø
Age: 64
Ø
Senior Economist
Ø Qualification:
University
Ø Working experience
(s):
At present, working in SC as legal
representative, chairman and general manager
Also
working in Jiangsu Zhongtian Technology Co., Ltd. as
legal representative
Director
-----------
Xue Chi ID#320623197901204531
Qu Zhi ID#210219197509214311
Tong Jiangbing ID#320622197411182791
Gao Hongshi ID#320624196504082018
Supervisor
--------------
Xue
Xiaoyan
BUSINESS OPERATION
SC’s registered business scope includes importing and
exporting commodities and technology; domestic trade; developing and
manufacturing cable products and equipment; as well as storage.
SC’s
products mainly include: Optical Fiber, Electric Cable, Optical Cable &
Submarine Cable.
SC sources its products 100% from domestic
market, mainly Jiangsu. SC sells 70% of its products in domestic market, and
30% to overseas market, mainly U.S.A., 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:
==============
American Wire
Group
Mishawaka
Utilities Inc.
Mva Power Usa Inc.
Sssi International
Inc.
*Major Supplier:
============
Jiangsu Zhongtian Technology
Co., Ltd.
Staff & Office:
--------------------------
SC is
known to have approx. 186
staff at present.
SC rents an area
as its operating office, but the detailed information is unknown.
RELATED COMPANY
n
Zhongtian Hitachi Fiber Optic Cable Co., Ltd.
n
Zhongtian Technology Optical Fiber Co., Ltd.
n
Jiangsu Zhongtian Technology Investment Management Co., Ltd.
n
Nantong Zhongtian Jiangdong Property Co., Ltd.
n
Shanghai Zhongtian Aluminum Wire Co., Ltd.
n
Technologies Submarine Optic Fiber Cable Co., Ltd.
n
Zhongtian Hitachi Radio Frequency Cable Co., Ltd.
n
Guangdong Zhongtian Technology Optical Cable Co., Ltd.
n
Zhongtian Technology (Shenyang) Optical Cable Co., Ltd.
PAYMENT
Overall payment appraisal:
( ) Excellent ( ) Good (X) No Complaints ( ) 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’s
suppliers declined to make any comments.
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:
Bank
of Communications
AC#: N/a
FINANCIALS
Financial Summary
|
Unit: CNY’000 |
As
of Dec. 31, 2013 |
|
Total assets |
319,899 |
|
|
------------- |
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Total
liabilities |
206,357 |
|
Equities |
113,542 |
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|
------------- |
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Revenue |
604,596 |
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Profit before
tax |
2,237 |
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Less: profit tax |
746 |
|
Profits |
1,491 |
Important Ratios
=============
|
|
As
of Dec. 31, 2013 |
|
*Liabilities
to assets |
0.65 |
|
*Net profit
margin (%) |
0.25 |
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*Return on
total assets (%) |
0.47 |
|
*
Revenue/Total assets |
1.89 |
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:
AVERAGE
l
The debt ratio of SC is average.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Stable.
CONCLUSIONS
SC is considered medium-sized in its line with stable
financial conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.61.87 |
|
UK Pound |
1 |
Rs.94.07 |
|
Euro |
1 |
Rs.70.19 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
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|
|
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Report Prepared
by : |
MNL |
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 |
|
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.