|
Report No. : |
329735 |
|
Report Date : |
01.07.2015 |
IDENTIFICATION DETAILS
|
Name : |
|
|
|
|
|
Registered Office : |
16/F, Unit 1, Building No.1, Greenland-Xingmao Center, Daxing District,
Beijing, 102600 Pr |
|
|
|
|
Country : |
China |
|
|
|
|
Date of Incorporation : |
08.09.2010 |
|
|
|
|
Com. Reg. No.: |
110105013200819 |
|
|
|
|
Legal Form : |
Limited Liabilities Company |
|
|
|
|
Line of Business : |
Subject is engaged in selling metal materials, building materials,
hardware |
|
|
|
|
No. of Employee : |
15 |
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. 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 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 that year... 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 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 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 |
BEIJING GSIMET
INTERNATIONAL TRADING CO., LTD.
16/F, UNIT 1, BUILDING NO.1,
GREENLAND-XINGMAO CENTER, DAXING DISTRICT, BEIJING, 102600 PR CHINA
TEL: 86 (0) 10-80256012/80255285 FAX: 86 (0) 10-80250117
INCORPORATION DATE : SEP. 8, 2010
REGISTRATION NO. : 110105013200819
REGISTERED LEGAL FORM :
LIMITED LIABILITIES COMPANY
STAFF STRENGTH : 15
REGISTERED CAPITAL : CNY 3,000,000
BUSINESS LINE : TRADING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
MARKET CONDITION
: AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.20 = USD 1 AS OF 2015-6-30
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 is the
former operating address of SC.
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 Sep. 8, 2010.
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 selling metal materials,
building materials, hardware, chemical products (excluding hazardous
chemicals); importing and exporting goods and technology, import and export
agents.
SC is mainly engaged in selling metal materials, building materials,
hardware, etc.
Mr. Duo Guodong has been legal
representative, executive director and manager of SC since 2010.
SC is known to have approx. 15 employees at present.
SC is currently operating
at the above stated address, and this address houses its operating office in
Beijing. Detailed premise information is not available at present.
http://simetcc.cn.globalimporter.net
The design is professional and the content is well organized. At present it is
in Chinese version.
Changes of its registered information:
|
Date of change |
Item |
Before the
change |
After the change |
|
2011-8-30 |
Registered capital |
CNY 500,000 |
Present amount |
Subject passed the annual inspection
of 2012 with Administration for Industry & Commerce.
Tax Registration Certificate No.:
110105562113082
Organization Code: 562113082
There is no record of litigation till
now.
OWNERSHIP/MANAGEMENT BACKGROUND
MAIN SHAREHOLDERS:
Duo Guodong 60
Zhao Lidong 40
l Legal
representative, executive director and manager:
Mr. Duo Guodong is currently responsible for the overall management
of SC.
Working Experience(s):
From 2010 to present Working in SC as
legal representative, executive director and manager
Also working in Beijing
Oriental Construction International Steel Structure Co., Ltd., Beijing Oriental
Aobo Color Coated Steel Plate Co., Ltd. (literal translation), Beijing Boyu
Hongcheng Architecture Design Co., Ltd. (literal translation), Beijing Shiheng
Modular House Co., Ltd., etc. as legal representative
l Supervisor:
Zhao Lidong
SC is mainly engaged in selling metal materials, building materials,
hardware, etc.
SC’s products mainly include: building
materials, steel, etc.
SC sources its
materials 90% from domestic market, and 10% from overseas market. SC sells 50%
of its products in domestic market, and 50% to overseas market.
The buying terms of SC include Check, T/T,
L/C 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
refused to release its main suppliers and clients.
Beijing Oriental
Construction International Steel Structure Co., Ltd.
Registration no.:
110113003318484
Legal representative: Duo
Guodong
Incorporation date:
Tel: 010-89411008
Beijing Oriental Aobo Color
Coated Steel Plate Co., Ltd. (literal translation)
Registration no.: 110113005641365
Legal representative: Duo
Guodong
Incorporation date:
Beijing Boyu Hongcheng
Architecture Design Co., Ltd. (literal translation)
Registration no.:
110116000842967
Legal representative: Duo
Guodong
Incorporation date:
Beijing Shiheng Modular
House Co., Ltd.
Registration no.:
110113011758113
Legal representative: Duo
Guodong
Incorporation date:
Tel: 010-89411382
Fax: 010-89411383
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 declined to release its banking details.
SC’s management declined to release any
financial information.
SC is considered small-sized in its line
with 4 years operation history. Taking into consideration of SC’s development
history and operation size, we would rate SC as an above average credit risk
company.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.75 |
|
|
1 |
Rs.100.12 |
|
Euro |
1 |
Rs.71.20 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ASH |
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.