MIRA INFORM REPORT
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Report No. : |
320486 |
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Report Date : |
02.05.2015 |
IDENTIFICATION DETAILS
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Name : |
SHANGHAI NANSHI
FOREIGN ECONOMIC COOPERATION & TRADING CO., LTD. |
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Registered Office : |
4/F, No. 62, Pusan Road, Pudong New District, Shanghai, 200125 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2012 |
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Date of Incorporation : |
12.10.1993 |
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Com. Reg. No.: |
310115000118153 |
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Legal Form : |
Limited Liabilities Co. |
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Line of Business : |
Importing and exporting commodities & technology; processing with
imported materials, processing with imported samples, assembling with
imported parts, and compensation trade in agreement, business of foreign
economic consulting, domestic trade, and economic information consulting. |
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No. of Employee : |
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 : |
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 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. In 2014 China agreed to begin limiting carbon dioxide emissions by 2030. China implemented several economic reforms in 2014, including legislation allowing local governments to issue bonds, further opening several state-owned enterprises to private investment, loosening the one-child policy, passing harsher pollution fines, and cutting administrative red tape.
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Source
: CIA |
Company
name & address
SHANGHAI NANSHI FOREIGN ECONOMIC COOPERATION
& TRADING CO., LTD.
4/f, NO. 62, pusan road, Pudong NEW district,
shanghai, 200125 PR CHINA
TEL: 86 (0) 21-51712805
FAX: 86 (0) 21-51712807
EXECUTIVE
SUMMARY
INCORPORATION DATE : OCT. 12, 1993
REGISTRATION NO. : 310115000118153
REGISTERED LEGAL FORM : LIMITED LIABILITIES CO.
CHIEF EXECUTIVE :
MR. Zhang Peihai (CHAIRMAN)
STAFF STRENGTH :
N/A
REGISTERED CAPITAL : CNY 4,480,000
BUSINESS LINE :
trading
TURNOVER :
CNY 341,178,000
(AS OF DEC. 31, 2012)
EQUITIES :
CNY 6,174,000 (AS OF DEC. 31, 2012)
PAYMENT :
AVERAGE
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : fairly STABLE
OPERATIONAL TREND : steady
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY 6.21 = 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 State-Owned Enterprise at local Administration
for Industry & Commerce (AIC - The official body of issuing and renewing
business license) on Oct. 12, 1993 and
has been under present ownership since Mar. of 1999.
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 importing and exporting
commodities & technology; processing with imported materials, processing
with imported samples, assembling with imported parts, and compensation trade
in agreement, business of foreign economic consulting, domestic trade, and
economic information consulting.
SC is mainly engaged in international trade.
Mr. Zhang Peihai has been legal representative and chairman of SC since
2011.
SC’s management declined to disclose its staff strength.
SC is currently operating at the above stated address, and this address
houses its operating office in the commercial zone of Shanghai. Our checks reveal
that SC rents the total premise about 350 square meters.
Note: SC has another operating address:
Rm. 1301, Zhijun Building, No. 1223, Xietu Road, Shanghai
http://www.snft.cn/
The design is professional and the content is well organized. At present it is
in both Chinese and English versions.
E-mail: snft@snft.cn
Changes
of its registered information:
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Date of change |
Item |
Before the change |
After the change |
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1999-3 |
Registered legal form |
State-owned enterprise |
Limited liabilities co. |
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Company name |
Shanghai Nanshi Foreign Economic Cooperation & Trading Corp. |
Present one |
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2005-12 |
Legal representative |
Shi Huikang |
Hu Shiwei |
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2009-1 |
Registered capital |
CNY 5,500,000 |
Present amount |
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Unknown |
Registration No. |
3101151016836 |
Present one |
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2011-4-18 |
Legal representative |
Hu Shiwei |
Present one |
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2012-5 |
Shareholders |
Shanghai Ximen (Group) Corp. 9.09% Shanghai Yuyuan (Group) Co., Ltd. 73.41% Shi Huikang 12.5% Wu Xinhe 2.5% Xu Jizhong 2.5% |
Present ones |
Organization Code: 132226183
Subject passed the annual inspection of 2012 with Administration for Industry
& Commerce.
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Shi Huikang 12.5
Wu Xinhe 2.5
Shanghai Yuyuan (Group) Co., Ltd. 82.5
Xu Jizhong 2.5
Shanghai Yuyuan (Group) Co., Ltd.
=========================
Registered no.: 310000000050883
Registered capital: CNY 262,160,000
Date of incorporation: Feb. 26, 1997
Legal representative: Zhang Peihai
Web: http://www.yuyuan-group.cn
Legal
Representative and Chairman:
Mr. Zhang Peihai is currently responsible for the overall management of
SC.
Working Experience(s):
From 2011 to present Working
in SC as legal representative and chairman
Also working in Shanghai Yuyuan (Group) Co., Ltd. as legal
representative
Directors:
Jiang Zhihua ID# 31010219580802****
Zhang Fushan
Supervisor:
Yu Haiqin
SC is mainly engaged in international trade.
SC’s products mainly include: small hardware products, machinery,
instrument, textiles, and chemical products.
SC sources its materials 90% from domestic market, mainly Zhejiang, and
10% from overseas market, mainly U.S.A. and Europe. SC sells 10% of its
products in domestic market, and 90% to overseas market, mainly U.S.A. and
Europe.
The buying terms of SC include Check, T/T, L/C and Credit of 30-45 days.
The payment terms of SC include T/T, L/C and Credit of 30-60 days.
Note: SC’s management declined to release its customer and supplier
details.
SC is not known to have any subsidiary at present.
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.
Bank of China Pudong Sub-branch
AC#：N/A
Relationship: Normal.
Financial
Information
Unit: CNY’000
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as of Dec. 31,
2011 |
as of Dec. 31,
2012 |
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Total liabilities |
88,226 |
78,281 |
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Shareholders equities |
6,154 |
6,174 |
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Total Assets |
94,380 |
84,455 |
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Turnover |
317,740 |
341,178 |
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Profit before tax |
1,067 |
1,853 |
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Net profit |
811 |
1,384 |
Note: SC has not lodged the latest annual returns in
the local registry, hence no up-to-date detailed financial information could be
provided.
Important
Ratios
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as of Dec. 31,
2011 |
as of Dec. 31,
2012 |
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*Liabilities to assets |
0.93 |
0.93 |
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*Net profit margin (%) |
0.26 |
0.41 |
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*Return on total assets (%) |
0.86 |
1.64 |
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*Turnover/Total assets |
3.37 |
4.04 |
PROFITABILITY:
AVERAGE
The turnover of SC appears fairly good in its line.
SC’s net profit margin is average.
SC’s return on total assets is average.
SC’s turnover is in a fairly good level, comparing with the size of its
total assets.
LEVERAGE: FAIR
The debt ratio of SC is high in both years.
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly Stable.
SC has developed for 21 years 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.63.57 |
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1 |
Rs.97.99 |
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Euro |
1 |
Rs.70.53 |
INFORMATION DETAILS
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Analysis Done by
: |
SUB |
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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.