MIRA INFORM REPORT
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Report No. : |
330174 |
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Report Date : |
06.07.2015 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Room 2501, Pufa Plaza,
No. 209 Changjiang Road,
Nangang District, Harbin, Heilongjiang Province, 150090 Pr |
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Country : |
China |
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Date of Incorporation : |
21.12.1999 |
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Com. Reg. No.: |
230199100013739 |
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Legal Form : |
Shares Jointly Owned Enterprise |
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Line of Business : |
Manufacturing and selling of water treatment device-used glass fiber
reinforced plastic shell, FRP composite materials products and environmental
protection equipment. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
B |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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Status : |
Moderate |
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Payment Behaviour : |
Unknown |
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Litigation : |
-- |
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
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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. 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.
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Source
: CIA |
Company
Name and address
Harbin ROPV Industry Development Center
Room 2501, Pufa Plaza, No. 209 Changjiang Road,
Nangang District,
Harbin, heilongjiang province, 150090 PR CHINA
TEL: 86 (0) 451-82267301 FAX: 86 (0) 451-82267303
EXECUTIVE
SUMMARY
INCORPORATION DATE : dec. 21, 1999
REGISTRATION NO. : 230199100013739
REGISTERED LEGAL FORM : Shares jointly owned
enterprise
chief executive : mr. li youqing (CHAIRMAN)
STAFF STRENGTH : n/a
REGISTERED CAPITAL : CNY 1,000,000
BUSINESS LINE :
MANUFACTURING & TRADING
TURNOVER : n/a
EQUITIES : N/A
PAYMENT : AVERAGE
MARKET CONDITION : average
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : average
EXCHANGE RATE : CNY 6.205
= 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: SC’s operating address should be the heading one, while the is
SC’s registered address.
SC was registered as a Shares jointly owned enterprise at local
Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license) on Dec. 21, 1999.
Company Status: Shares jointly owned enterprise This form of business in PR China is defined as a legal person
whose registered capital is mostly or wholly raised by the staff members of
the enterprise. Its shareholders consist of at least 8 staff members, and
the staff members that are not shareholders should be less than 10% of the
total staff members. It operates as a cooperative, under democratic
management, paying salaries according to the achievements of staff members
and distributing its profit according the shares owned.
SC’s registered business scope includes production and sale of water treatment
device-used glass fiber reinforced plastic shell, FRP composite materials
products, environmental protection equipment, development and application of
green technology, purchase and sale: household water purifiers and related
products. Engage in import and export business according to the scope which
approved by import and export right registration certificate of production
enterprise.
SC is mainly engaged in manufacturing and selling water treatment
device-used glass fiber reinforced plastic shell, FRP composite materials
products and environmental protection equipment.
Mr. Li Youqing is legal representative and chairman of SC at present.
SC refused to release the number of employees.
SC is currently operating at the above stated address, and this address
houses its operating office in Harbin. SC’s employee refused to release the detailed information of the premise.
The factory address is not available.
http://www.ropv.com.cn/ The design is professional and the content is
well organized. At present it is in both Chinese and English versions.
Email: ropv@ropv.com.cn
SC has passed GB/T19001-2008、GB/T24001-2004、GB/T28001-2001,
and SC’s products passed the certificates of ASME、CE、NSF、WRAS、ACS、CRN, etc.
No significant changes were found during our checks with the local AIC.
Organization Code: 718443652
See below for SC as executive party (defendant).
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Executed Party |
SC |
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Court |
Harbin Nangang District People's Court |
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Date of Case |
2015-03-30 |
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Case Number |
(2015) 00761 |
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Claim Amount |
RMB 0 |
Remark: Due to the lack of information, we are unable to provide the cause of
action, judgment or other information.
MAIN SHAREHOLDERS:
Name % of Shareholding
Harbin FRP Institute 41.4
Employee shareholders 58.6
Harbin FRP
Institute
======================
Founded in 1960, Harbin FRP Institute is one of China’s first
professional organizations in the research and application of resin-based
composite materials, the support unit of National Engineering Center of
Resin-Based Composite Materials, the vice director unit of the National
Standardization Committee of Fiber Reinforced Plastics, as well as one of the
first 100 Scientific Research Institutes with import-export authority granted
by the State Foreign Economic & Trade Commission and State Science and
Technology Commission. Being a part directly under the State Building Materials
Industry Bureau, in July 1999, as one of the 242 scientific research
institutions of 10 state bureaus managed by the State Economic and Trade
Commission, the institute restructured and joined China Building Materials
Group as a state-owned science and technology enterprise with independent legal
entity.
Registration no.: 230106100022477
Registered capital: CNY 80,160,000
Legal representative: Chen Hui
Add.: No.100, Hongqi Street, Xiangfang District, Harbin City,
Heilongjiang Province
Tel: 86-451-55637346 55637339 55667365
Fax: 86-451-55637324
Legal
representative and chairman:
Mr. Li Youqing is currently responsible for the overall management of
SC.
Working Experience(s):
At present Working in SC as
legal representative and chairman.
Also working in Harbin Ropv Industry Development Center Dezhou Branch
Plant as principal.
SC is mainly engaged in manufacturing and selling water treatment
device-used glass fiber reinforced plastic shell, FRP composite materials
products and environmental protection equipment.
SC’s products mainly include:
2.5'' Pressure Vessel
4'' Pressure Vessel
8'' Pressure Vessel
16'' Pressure Vessel
18'' Pressure Vessel
SC’s employee refused to release the exact import and export proportion.
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 refused to release its main suppliers and clients.
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TRADEMARKS &
PATENTS |
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Registration No. |
8250464 |
6824277 |
6527229 |
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Registration Date |
2011-5-7 |
2010-4-14 |
2010-3-28 |
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Trademark Design |
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Distributor: according to SC’s website
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PureGen Technology Inc.
Market area – USA (2.5'' and 4'' vessels)
5423 G Street Chino, CA. 91710 USA
Tel: +1 909 5480339
Fax: +1 909 548-0863
Email: sales@puregen.com
Water Line Srl
Market area - Italy
Via Caponnetto, 21 - loc. Rubiera42122 REGGIO EMILIAP.IVA E COD. FISC.
02020430357
TEL: +39 0522 626090
FAX: +39 0522 626091
Email: Ballabeni@waterline.it
Monterra Solutions LLC
Market area - Saudi Arabia, Turkey, Greece and Jordan.
TEL: +359 88 44 534 22
FAX: +971 50 550 4776
Email: fmakki@monterrasolutions.eu
GHT
Market area - Korea
G-15,Hagun4-IlbanSaneopdanji,Hagun-ri,Yangchon-eup,Gimpo-si,Gyeonggi-do,Korea
TEL: +82 31 985 4187
FAX: +82 31 996 4189
Email: waterofpuremole@hotmail.com
Vovani Water Products
Market area - South Africa
75 Ysterhout Street Kempton Park,1618 South Africa
TEL: +27 72 249 0825
FAX: 086 659 0261
Email: henk@vovani.co.za
Partners: according to SC’s website
===========================
Harbin Topfrp Composite Co., Ltd.
=============================
Registration no.: 230106100001219
Legal representative: Sun Baohua
Incorporation date: 1980-7-24
Harbin Composite Equipment Company
===========================
Registration no.: 230199100000296
Legal representative: Chen Hui
Incorporation date: 1991-9-6
Branch:
Harbin Ropv Industry Development Center Dezhou Branch Plant
===============================
Registration no.: 371403119000927
Principal: Li Youqing
Incorporation date: 2006-08-21
Global Market: (according to SC’s website)
Phone: +1 925 237 0184
Fax: +1 925 264 1951
P.O. Box 355, Brentwood, CA 94513
E-mail: hwang@ropv.com.cn
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 was established in 1999 with 16 years operation history.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.40 |
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1 |
Rs.98.94 |
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Euro |
1 |
Rs.70.33 |
INFORMATION DETAILS
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Analysis Done by
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KAR |
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Report Prepared
by : |
NIT |
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 |
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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 |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
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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 |
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<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
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-- |
NB |
New Business |
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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.