MIRA INFORM REPORT
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Report No. : |
320480 |
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Report Date : |
06.05.2015 |
IDENTIFICATION DETAILS
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Name : |
Xi’an Lynsn Electric LTD. |
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Registered Office : |
1-2-1901, Yahe Sijicheng, Fengcheng 3rd
Road, Xi’an, Shaanxi Province, 710021 Pr |
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Country : |
China |
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Date of Incorporation : |
25.11.2014 |
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Com. Reg. No.: |
610132100082347 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Subject includes selling high & low voltage electrical equipment,
transformers, switchgear, transformer, rectifier, wire and cable, instruments
and meters, electronic products, lighting equipment, hardware, communications
equipment, electrical equipment, mining equipment, general machinery
equipment, environmental equipment, oil drilling equipment, automation
equipment and accessories; designing and construction of electrical
engineering, automation engineering, energy conservation and environmental
protection engineering, communication engineering; researching, developing
and technology service of electrical products and industrial automation
systems; importing and exporting commodities and technologies. |
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No. of Employees : |
4 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Company |
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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 and address
Xi’an Lynsn Electric LTD.
1-2-1901, YAHE
SIJICHENG, FENGCHENG 3RD ROAD, XI’AN,
SHAANXI PROVINCE,
710021 PR CHINA
TEL: 86 (0)
13909228170 FAX: N/A
EXECUTIVE
SUMMARY
INCORPORATION DATE : NOV. 25, 2014
REGISTRATION NO. : 610132100082347
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
STAFF STRENGTH : 4
REGISTERED CAPITAL : CNY 2,000,000
BUSINESS LINE :
TRADING
TURNOVER : N/A
EQUITIES : N/A
PAYMENT : NOT YET
DETERMINED
MARKET CONDITION : FAIR
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : SUBJECT TO LONGER PERIOD OF
OBSERVATION
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) on Nov. 25, 2014.
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 high & low voltage electrical equipment,
transformers, switchgear, transformer, rectifier, wire and cable, instruments
and meters, electronic products, lighting equipment, hardware, communications
equipment, electrical equipment, mining equipment, general machinery equipment,
environmental equipment, oil drilling equipment, automation equipment and
accessories; designing and construction of electrical engineering, automation
engineering, energy conservation and environmental protection engineering,
communication engineering; researching, developing and technology service of
electrical products and industrial automation systems; importing and exporting
commodities and technologies. (with permit if needed)
SC has not started its normal operation yet.
Mr.
Hui Yuantao is legal representative, chairman and general manager of SC at
present.
SC is known to have approx. 4 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in Xi’an. The detailed premise information is unspecified.
SC is not known to host web site of its own at present.
No significant changes were found during our checks with the local Administration
for Industry and Commerce.
SC has not started its normal operation yet.
Organization code: 31105548X
There is no record of litigation.
MAIN
SHAREHOLDERS:
Name %
of Shareholding
Hui Yuantao 60
Wu Rui
40
l Legal representative,
Chairman and General manager:
Mr. Hui Yuantao is currently
responsible for the overall management of SC.
Working Experience(s):
At present Working in SC as legal
representative, chairman and general manager.
Also
working in Liuzhou Prosperity Electric Co., Ltd. as supervisor.
l
Supervisor:
Wu Rui
SC has not started its normal operation yet.
Liuzhou
Prosperity Electric Co., Ltd.
Registered
no.: 450204000105311
Establishment
date:
Overall payment appraisal :
( ) Excellent (
) Good ( ) Average
( ) Fair (
) Poor (X) 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 : N/A
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 accountant
refused to release the bank details.
SC was established in 2014, so its financial reports are not available
at present.
SC was established in 2014 and has not started its normal operation, so
its credit has not been established yet.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.63.52 |
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1 |
Rs.95.96 |
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Euro |
1 |
Rs.70.54 |
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.