|
Report No. : |
307662 |
|
Report Date : |
13.02.2015 |
IDENTIFICATION DETAILS
|
Name : |
HANS ECOMAGINATION CO., LIMITED |
|
|
|
|
Registered Office : |
|
|
|
|
|
Country : |
|
|
|
|
|
Date of Incorporation : |
18.07.2012 |
|
|
|
|
Legal Form : |
Private company |
|
|
|
|
Line of Business : |
Subject is engaged in exporting
textile machinery. |
|
|
|
|
No. of Employee : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
Ca |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
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 |
|
Status : |
Not registered in china |
|
|
|
|
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 – December 31, 2014
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
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. 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.
|
Source
: CIA |
HANS ECOMAGINATION
CO., LIMITED
NO. 2 HEHU ROAD, PAOJIANG INDUSTRIAL ZONE
SHAOXING, ZHEJIANG PROVINCE 312071 PR CHINA
TEL: 86 (0) 575-88157803
FAX: 86 (0) 575-88241088
NARRATIVE REPORT
This refers to a type of report whose format is different from that of a
standard report. Such type of report is provided when:
l
Information obtained is insufficient for compiling
a standard report.
l
The enquired co has been out of business or its
business address has been untraceable.
It should be noted that the time and manpower spent on preparing such
type of report might be greater than those on a standard report. On many
occasions, the information in this type of report still indicates the current
status of the enquired co. and serves as a useful reference to assess its
credit standing.
ADOPTED
ABBREVIATIONS (AS FOLLOWS)
SC - Subject Company
(the company inquired by you)
N/A – Not available
CNY – China Yuan Ren
Min Bi
²
According to the internet sources, we found the
following contact ways,
Tel: 86 (0)
575-88157803
Fax: 86 (0)
575-88241088
When we dialed the above number, a gentleman Mr. Zhang answered the phone.
He admitted the given English name, and told us SC’s Chinese name in
translation is which is registered in Hong Kong, and SC mainly operates in
Shaoxing, Zhejiang Province PR China.
²
Mr. Zhang
introduced the below information,
A.
SC is mainly engaged in exporting textile
machinery,
B.
The products mainly include,
YL747 rapier loom
YL2000 rapier loom
YL788 Jacquard
rapier machine
YL788 rapier loom
YL736 rapier loom
YL988 rapier loom
YL2000 type
computer glove machine
YL2003 sectional
warping machine
C.
SC sources its products 100% from domestic market.
SC sells 100% to overseas market.
D.
SC related companies,
Zhejiang Yuelong
Textile Machinery Co., Ltd.
Shaoxing Yuelong
Textile Machinery Co., Ltd.
Web: www.zjyl788.com
No. 2 Hehu Road,
Paojiang Industrial Zone, Shaoxing, Zhejiang Province 312071 PR China
Both SC and its related companies-Zhejiang Yuelong Textile Co., Ltd.
& Shaoxing Yuelong Textile Machinery Co., Ltd. locate in the above.
During our check with Hong Kong Registry, we found the following registration about SC,
Company Name: Hans Ecomagination Co., Limited
Company File No.: 1775142
Date of Registration:
July 18, 2012
Legal Form: Private
Status: Live
A research was conducted with Shaoxing municipal Administration of Industry & Commerce (the official body of issuing and renewing business license), however, we found the registration information on SC’s related companies,
Company Name: Zhejiang Yuelong Textile Machinery Co., Ltd.
Registration No.: 330600000037152
Date of Registration: May 26, 2004
Legal Form: Limited Liabilities Company
Registered Capital: CNY 10,000,000
Legal Representative: Xu Bo
Company Name: Shaoxing Yuelong Textile Machinery Co., Ltd.
Registration No.: 002942
Date of Registration: May 6, 2003
Legal Form: Chinese-foreign equity joint venture enterprise
Registered Capital: USD 250,000
Legal Representative: Xu Yongzhai
SC is considered small-sized in its line with 3 years business history.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.62.43 |
|
|
1 |
Rs.95.02 |
|
Euro |
1 |
Rs.70.63 |
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.