MIRA INFORM REPORT
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Report No. : |
324401 |
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Report Date : |
02.06.2015 |
IDENTIFICATION DETAILS
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Name : |
Shunde native
produce import & export co., ltd. of guangdong |
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Registered Office : |
No. 16 North Ronggui Avenue, Shunde District, Foshan, Guangdong Province 528303 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
13.11.1984 |
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Com. Reg. No.: |
440681000062991 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Subject is engaged in general business items: importing and exporting
various goods and technologies (excluding the goods prohibited or limited by
the country); in accordance with license; purchasing flowers and tree
seedlings; domestic commerce, supplying and selling of commodities (excluding
specially operated, controlled and monopolized commodities) Permit business
items: wholesale and retail: dairy products (excluding infant formula milk
powder). |
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No. of Employees : |
64 |
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 : |
Slow but correct |
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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
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Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
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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.
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Source
: CIA |
Company
Name & address
Shunde native produce import & export co.,
ltd. of guangdong
no. 16 north ronggui avenue, shunde district,
foshan, guangdong province 528303 PR CHINA
TEL: 86 (0) 757-26383801/26383803 FAX: 86 (0) 757-26383811
EXECUTIVE
SUMMARY
INCORPORATION DATE : Nov. 13, 1984
REGISTRATION NO. : 440681000062991
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
CHIEF EXECUTIVE :
MR. He Tianwen (chairman)
STAFF STRENGTH :
64
REGISTERED CAPITAL : cny 15,000,000
BUSINESS LINE : TRADING
TURNOVER :
CNY 2,343,620,000 (AS OF DEC. 31, 2014)
EQUITIES :
CNY 34,440,000 (AS OF DEC. 31, 2014)
PAYMENT :
AVERAGE
MARKET CONDITION : competitive
FINANCIAL CONDITION : fairly STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY
6.20 = 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
SC was registered as a limited liabilities company at local
Administration for Industry & Commerce (AIC - The official body of issuing
and renewing business license).
Company Status: Limited liabilities
company 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 general business items:
importing and exporting various goods and technologies (excluding the goods
prohibited or limited by the country); in accordance with license; purchasing
flowers and tree seedlings; domestic commerce, supplying and selling of
commodities (excluding specially operated, controlled and monopolized
commodities) Permit business items: wholesale and retail: dairy products
(excluding infant formula milk powder).
SC is mainly engaged in trading of various kinds of products.
Mr. He Tianwen is the legal representative and chairman of SC at
present.
SC is known to have approx. 64 employees at present.
SC is currently operating at the above stated address, and this address
houses its operating office in the commercial zone of Foshan. Our checks
reveal that SC rents the total premise, but SC’s employee refused to release
the gross area of the premise.
http://www.gdsdnp.cn/
The website can’t be found at present.
E-mail: sdnp@hotmail.com
Changes
of its registered information:
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Date of change |
Item |
Before the change |
After the change |
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2010 |
Registered capital |
CNY 5,060,000 |
CNY 9,500,000 |
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Unknown |
Registration No. |
4406812018084 |
440681000062991 |
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2013 |
Registered capital |
CNY 9,500,000 |
Present amount |
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Shareholdings |
He Tianwen 42.55% Liang Yuhe 33.06% Chen Guowen 13.36% Yang Shaoxia 11.03% |
Present ones |
Subject passed the annual inspection of 2012 with Administration for
Industry & Commerce.
Organization Code: 190342641
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name Amount
(CNY) %
of Shareholding
He Tianwen 6,380,000 42.53
Liang Yuhe 4,960,000 33.07
Chen Guowen 2,000,000 13.33
Yang Shaoxia 1,660,000 11.07
Legal
representative and chairman:
Mr. He Tianwen, born in 1961, with university education. He 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 Foshan Changhui Electrical Appliances Co., Ltd. as legal
representative.
SC is mainly engaged in trading of various kinds of products.
SC’s products mainly include: lighting fixtures, building material, sanitary,
hardware and household appliance.
SC sources its materials 80% from domestic market, and 20% from overseas
market. SC sells 70% of its products in domestic market, and 30% to overseas
market.
The buying terms of SC include Check, L/C, T/T and Credit of 15-30 days.
The payment terms of SC include Check, L/C, T/T, and Credit of 15-30 days.
Note: SC’s
management declined to release its major clients and suppliers.
Trademark & Patents
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Registration No. |
10199691 |
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Registration Date |
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Trademark Design |
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Subsidiaries:
Foshan Changhui Electrical Appliances Co., Ltd.
Foshan Shunde Kaitao Import & Export Co., Ltd.
Foshan Taishan Environment Greening Co., Ltd.
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’s management declined to release its bank details.
Financial
Summary
===============
Unit: CNY’000
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As of Dec. 31, 2014 |
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Total liabilities |
743,230 |
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Equities |
34,440 |
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-------------- |
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Total liabilities & equities |
777,670 |
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========= |
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Turnover |
2,343,620 |
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Profits |
4,680 |
Note:
SC’s management refused to release its detailed financial reports.
Important
Ratios
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as of Dec. 31,
2014 |
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*Liabilities to assets |
0.96 |
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*Net profit margin (%) |
0.20 |
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*Return on total assets (%) |
0.60 |
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*Turnover/Total assets |
3.01 |
PROFITABILITY: AVERAGE
The turnover of SC appears good in its line.
SC’s net profit margin is average.
SC’s return on total assets is average.
SC’s turnover is in an average level, comparing with the size of its
total assets.
LEVERAGE: FAIR
The debt ratio of SC is high.
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly stable.
SC is considered medium-sized in its line with fairly stable financial
conditions.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.61 |
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1 |
Rs.97.27 |
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Euro |
1 |
Rs.69.63 |
INFORMATION DETAILS
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Analysis Done by
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RAS |
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Report Prepared
by : |
TPT |
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.