MIRA INFORM REPORT
|
Report No. : |
320944 |
|
Report Date : |
07.05.2015 |
IDENTIFICATION DETAILS
|
Name : |
SHANGHAI ROADART INDUSTRIAL CO., LTD. |
|
|
|
|
Registered Office : |
No. 618, Changjing Village, Waigang Town, Jiading District, Shanghai, 201806 PR |
|
|
|
|
Country : |
China |
|
|
|
|
Date of Incorporation : |
27.09.2012 |
|
|
|
|
Com. Reg. No.: |
310112001214148 |
|
|
|
|
Legal Form : |
Limited Liabilities Company |
|
|
|
|
Line of Business : |
Selling aviation equipment, transportation equipment, auto
& motorcycle parts, machinery and electrical equipment, instrumentation,
hardware, electronic products, rubber & plastic products, solar
equipment, reflective materials, marine equipment, chemical products and raw
materials (except for dangerous chemicals, controlled chemicals, fireworks,
civil explosives, precursor chemicals), computers, software and accessories
(except computer information systems safety products), purification
equipment, warehouse management, environmental construction engineering
construction, architectural decoration construction design and construction,
technology development, technical consulting, technical services, technology
transfer in the field of network technology, aerospace technology, industrial
investment, import and export business of goods and technology. |
|
|
|
|
No. of Employees : |
10 |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
Status : |
Moderate |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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
|
Country Name |
Previous Rating (30.09.2014) |
Current Rating (31.12.2014) |
|
China |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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.
|
Source
: CIA |
Company
name and address
SHANGHAI ROADART INDUSTRIAL CO., LTD.
NO. 618, CHANGJING VILLAGE, WAIGANG TOWN, JIADING DISTRICT,
Shanghai, 201806 PR CHINA
TEL: 86 (0) 13671745514 FAX: 86 (0) 21-23025833
EXECUTIVE
SUMMARY
INCORPORATION DATE : sep. 27, 2012
REGISTRATION NO. : 310112001214148
REGISTERED LEGAL FORM : Limited
liabilities company
STAFF STRENGTH :
10
REGISTERED CAPITAL : CNY 500,000
BUSINESS LINE :
trading
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
UNKNOWN
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : N/A
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE :
CNY
6.2001 = USD 1
HISTORY
Note: the given tel. no. (86-21-31120588) is out of service.
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 Sep. 27, 2012.
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 aviation equipment, transportation equipment, auto & motorcycle parts, machinery and electrical equipment, instrumentation, hardware, electronic products, rubber & plastic products, solar equipment, reflective materials, marine equipment, chemical products and raw materials (except for dangerous chemicals, controlled chemicals, fireworks, civil explosives, precursor chemicals), computers, software and accessories (except computer information systems safety products), purification equipment, warehouse management, environmental construction engineering construction, architectural decoration construction design and construction, technology development, technical consulting, technical services, technology transfer in the field of network technology, aerospace technology, industrial investment, import and export business of goods and technology.
SC is mainly engaged in selling aviation equipment, transportation equipment, instrumentation, reflective materials.
Xia Tongfei is the legal representative and chairman of SC at present.
SC is known to have approx. 10 employees at present.
SC is currently operating at the above stated address, and this address houses its operating office in Shanghai. SC’s management declined to release the detailed information of the premise.
The other address: Room 411, Building 1, No. 168 Jixin Road,
Minhang District, Shanghai.
WEB
SITE
http://www.roadart.cn/ The design is professional and the content is well organized. At present it is in both Chinese and English versions.
Email: roadart@163.com
KEY
EVENTS/RECENT DEVELOPMENT
No significant changes were found during our checks with local AIC.
Tax Registration Certificate No.: 310112055054639
Organization Code: 055054639
LITIGATION
For the past two years there is no record of litigation.
OWNERSHIP/MANAGEMENT
Name %
of Shareholding
Xia Tongchun 40
Xia Tongfei 60
MANAGEMENT
- Legal representative and Chairman:
Xia Tongfei is currently responsible for the overall management of SC.
Working Experience(s):
At present Working
in SC as legal representative and chairman
- Supervisor:
Xia Tongchun
BUSINESS
OPERATIONS
SC is mainly engaged in selling aviation equipment, transportation equipment, instrumentation, reflective materials.
SC’s products mainly include:
（Safety)Road Convex
Mirror
Stainless Steel Convex Mirror
Dome mirror
Square convex mirror
Guardrail Reflector
Road Stud
Temporary signs
ANTI-DAZZLE BOARD
Telescopic road cone
Inspection convex mirror
Stainless Steel Parking lock
PVC Road cone
Rubber/Plastic Speed Hump
Cable Protector
Underground Garage
Flexible guide panel
Rubble Protection angle
SC sources its materials 50% from domestic
market, and 50% from overseas market. SC sells 100% of its products in domestic
market.
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 and Credit of 30-60 days.
Note: SC refused to release its main suppliers and clients.
|
TRADEMARKS & PATENTS |
|
Registration No. |
12790738 |
|
Registration Date |
Dec. 21, 2014 |
|
Trademark Design |
|
RELATED
COMPANIES
According to SC’s website:
Great Aerospace Limited (Hong Kong)
======================
CR No.: 1643814
Company type: private company limited by shares
Active status: live
PAYMENT
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.
BANKING
SC declined to
release its banking details.
FINANCIAL
HIGHLIGHTS
SC’s management
declined to release any financial information.
REMARKS
SC is considered small-sized in its line with 3 years operation history.
Taking into consideration of SC’s development history we would rate SC as an
above average credit risk company. Credit confined into small amount may be
considered.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.63.64 |
|
|
1 |
Rs.96.81 |
|
Euro |
1 |
Rs.71.51 |
INFORMATION DETAILS
|
Analysis Done by
: |
DIV |
|
|
|
|
Report Prepared
by : |
VNT |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
|
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 |
|
|
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 |
|
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
|
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 |
|
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
|
-- |
NB |
New Business |
-- |
|
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.