MIRA INFORM REPORT
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Report No. : |
326698 |
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Report Date : |
11.06.2015 |
IDENTIFICATION DETAILS
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Name : |
JIAXING SHENGYUAN IMP. & EXP. CO., LTD. |
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Registered Office : |
A / 1802 Zhonghuan East Plaza, South Yuexiu Road Jiaxing, Zhejiang
Province 314001 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
08.02.2007 |
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Com. Reg. No.: |
330402000029056 |
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Legal Form : |
Limited Liabilities Company |
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LINE OF BUSINESS : |
SUBJECT
EXPORTING HELIOTROPIN, AND DOMESTIC TRADE; WHOLESALING MUSK XYLENE, SYNTHETIC
CAMPHOR, BORNEOL, ETHYL ACETATE, EUCALYPTUS OIL, CAMPHOR OIL, - PINENE,
PINENE, KAN ENE, EUCALYPTUS ELEMENT, ALLYL PHENOXY ACETATE ESTER, THE
UMBRELLA TO SPEND HYDROCARBON, ETHYL BUTYRATE, ETHYL BUTYRATE AMYL ESTER,
ACETIC ACID ALLYL, GENG ACID ALLYL PROPYL, INDOLE, ETHYL LACTATE, AND ETHYL
METHYL BUTYRATE; AND INTERNATIONAL TRADE. |
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No. of Employees : |
19 |
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
JIAXING SHENGYUAN IMP.& EXP.
CO., LTD.
A / 1802 ZHONGHUAN EAST PLAZA, SOUTH YUEXIU ROAD
JIAXING, ZHEJIANG PROVINCE 314001 PR CHINA
TEL: 86 (0) 573-82611333-811
FAX: 86 (0) 573-82616088
EXECUTIVE
SUMMARY
DATE OF REGISTRATION :
FEBRUARY 8, 2007
REGISTRATION NO. :
330402000029056
LEGAL FORM :
LIMITED LIABILITIES COMPANY
CHIEF EXECUTIVE :
XU TIANLING (LEGAL REPRESENTATIVE)
REGISTERED CAPITAL :
CNY 10,000,000
STAFF :
19
BUSINESS CATEGORY :
TRADING
REVENUE :
CNY 285,546,000 (AS OF DEC. 31, 2014)
EQUITIES :
CNY 14,811,000 (AS OF DEC. 31, 2014)
WEBSITE :
N/A
E-MAIL :
N/A
PAYMENT :
AVERAGE
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.20 = 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
Not yet be determined
LEGAL STATUS & HISTORY
SC was established as a limited liabilities company of PRC with State
Administration of Industry & Commerce (SAIC) under registration No.:
330402000029056 on February 8, 2007.
SC’s Organization Code Certificate No.: 79859186-5
SC’s Tax No.: 330401798591865
SC’s registered capital: CNY 10,000,000
SC’s paid-in capital: CNY 10,000,000
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 |
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Xu Tianling |
81 |
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Shen Xiujuan |
1 |
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Ling Qinghong |
1 |
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Jin Yong |
7.5 |
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Zhang Zusheng |
9.5 |
SC’s Chief Executives:-
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Position |
Name |
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Legal Representative and Chairman |
Xu Tianling |
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General Manager |
Zhang Zusheng |
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Supervisor |
Shen Xiujuan |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART & BACKGROUND
Name %
of Shareholding
Xu Tianling 81
Shen Xiujuan 1
Ling Qinghong 1
Jin Yong 7.5
Zhang Zusheng 9.5
MANAGEMENT
Xu Tianling, Legal Representative and Chairman
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Gender: F
Qualification: University
Working experience (s):
At present, working in SC as legal representative and chairman
Zhang Zusheng, General Manager
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Gender: M
Qualification: University
Working experience (s):
At present, working in SC as general manager
Supervisor
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Shen Xiujuan
BUSINESS OPERATION
SC’s registered business scope includes exporting heliotropin, and
domestic trade; wholesaling musk xylene, synthetic camphor, borneol, ethyl
acetate, eucalyptus oil, camphor oil, - pinene, pinene, Kan ene, Eucalyptus
element, allyl phenoxy acetate ester, the umbrella to spend hydrocarbon, ethyl
butyrate, ethyl butyrate amyl ester, acetic acid allyl, Geng acid allyl propyl,
indole, ethyl lactate, and ethyl methyl butyrate; and international trade.
SC is mainly engaged in international trade.
SC’s products mainly include: chemicals.
SC sources its products 100% from domestic market. SC sells 100% of its
products to the overseas market.
The buying terms of SC include Check, T/T and Credit of 30-60 days. The
payment terms of SC include Check, T/T, L/C and Credit of 30-60 days.
Staff & Office:
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SC is known to have approx. 19 staff at present.
SC rents an area as its operating office, but the detailed information
is unknown.
RELATED COMPANY
SC is not known to have any subsidiary at present.
PAYMENT
Overall payment
appraisal: ( ) Excellent ( ) Good (X) Average ( ) 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 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.
BANKING
The bank information of SC is not filed in local SAIC.
FINANCIALS
Financial Summary
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Unit: CNY’000 |
As of Dec. 31, 2013 |
As of Dec. 31, 2014 |
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Total assets |
59,578 |
67,359 |
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Total liabilities |
46,788 |
52,548 |
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Equities |
12,790 |
14,811 |
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Revenue |
269,926 |
285,546 |
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Profit before tax |
1,537 |
2,727 |
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Less: profit tax |
384 |
682 |
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Profits |
1,153 |
2,045 |
Important Ratios
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As of Dec. 31, 2013 |
As of Dec. 31, 2014 |
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*Liabilities to assets |
0.79 |
0.78 |
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*Net profit margin (%) |
0.43 |
0.72 |
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*Return on total assets (%) |
1.94 |
3.04 |
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*Revenue / Total assets |
4.53 |
4.24 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
The revenue of SC appears fairly good in its line.
SC’s net profit margin is average.
SC’s return on total assets is average.
LIQUIDITY: AVERAGE
SC’s revenue is in an average level, comparing with the size of its
total assets.
LEVERAGE: AVERAGE
The debt ratio of SC is average.
The risk for SC to go bankrupt is above average.
Overall financial condition of the SC: Fairly Stable.
CONCLUSIONS
SC is considered small-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.63.88 |
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1 |
Rs.98.47 |
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Euro |
1 |
Rs.72.14 |
INFORMATION DETAILS
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Analysis Done by
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KAS |
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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.