MIRA INFORM REPORT
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Report No. : |
321662 |
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Report Date : |
11.05.2015 |
IDENTIFICATION DETAILS
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Name : |
HANGZHOU JIAOTOU INDUSTRIAL CO., LTD. |
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Registered Office : |
7F-C-2 Jinjiang Tower, No. 111 Hushu South Road, Gongshu District, Hangzhou, Zhejiang Province 310005 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
01.04.2003 |
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Com. Reg. No.: |
330100000034896 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Subject is engaged in industry investment; indoor & outdoor
decorating engineering, landscape engineering; building integrated wiring; engineering
testing; property management; housekeeping service; selling building
materials, decoration materials, computer accessories, communication
equipment, textiles, textile raw materials, asphalt, fuel oil, and precious
metal; economic information consulting; importing and exporting commodities
and technology; renting building machinery, and machinery; and renting
automobiles. |
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No. of Employees : |
13 |
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 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
HANGZHOU JIAOTOU INDUSTRIAL CO.,
LTD.
7F-C-2 JINJIANG TOWER, NO. 111 HUSHU SOUTH ROAD, GONGSHU DISTRICT,
HANGZHOU, ZHEJIANG PROVINCE 310005 PR CHINA
TEL: 86 (0) 571-28955320/28955323/28955322
FAX: 86 (0) 571-28955320
EXECUTIVE
SUMMARY
Date of Registration : april 1, 2003
REGISTRATION NO. : 330100000034896
LEGAL FORM : LIMITED
LIABILITIES COMPANY
REGISTERED CAPITAL : cny 20,000,000
staff :
13
BUSINESS CATEGORY : trading & investment
Revenue :
cny 76,290,000 (AS OF DEC. 31,
2014)
EQUITIES :
cny 9,900,000 (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 6.22 = 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 one-person limited liabilities company of PRC on April 1, 2003. However, SC changed to
present legal form, and was registered as a limited liabilities company of PRC
with State Administration for Industry & Commerce (SAIC) under registration
No.: 330100000034896 on January 9, 2015.
SC’s Organization Code Certificate No.:
74718957-7
SC’s registered capital: cny 20,000,000
SC’s paid-in capital: cny 20,000,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
2013-04-15 |
Company Name |
Hangzhou Qiangong Decoration Engineering
Co., Ltd. |
Hangzhou Jiaotou Industrial Co., Ltd. |
|
2015-01-09 |
Legal Form |
One-Person Limited Liabilities Company |
Limited Liabilities Company |
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Shareholder (s) (% of Shareholding) |
Hangzhou Traffic Comprehensive Development
Company 100% |
Hangzhou Traffic Comprehensive Development
Company 65% Hangzhou Communications Investment Group
Co., Ltd. 35% |
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Registered Capital |
CNY 6,000,000 |
cny 20,000,000 |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
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Name of Shareholder (s) |
% of Shareholding |
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Hangzhou Traffic Comprehensive Development
Company |
65 |
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Hangzhou Communications Investment Group
Co., Ltd. |
35 |
SC’s Chief Executives:-
|
Position |
Name |
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Legal Representative, General Manager and
Director |
Sun Jie |
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Chairman |
Sun Bin |
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Director |
Dong Shuo |
|
Xu Wenyu |
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|
Yin Pengwei |
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Supervisor |
Hu Weifang |
|
Song Xuefei |
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|
Cai Linghong |
RECENT DEVELOPMENT
No recent development was found during our checks at present.
SHAREHOLDER CHART & BACKGROUND
Name %
of Shareholding
Hangzhou Traffic Comprehensive Development
Company 65
Hangzhou Communications Investment Group
Co., Ltd. 35
Hangzhou Traffic Comprehensive Development
Company
-----------------------------------------------------------------------
Registration No.: 330100000000716
Date of Registration: October 8, 1992
Legal Form: Limited Liabilities Company
Registered Capital: CNY 100,000,000
Legal Representative: Lv Changxin
Hangzhou Communications Investment Group
Co., Ltd.
-------------------------------------------------------------------
Registration No.: 330100000026669
Date of Registration: November 11, 2003
Legal Form: Sole State-owned Enterprise
Registered Capital: CNY 2,000,000,000
Legal Representative: Feng Guoming
Web: www.zjhzjtjt.com
MANAGEMENT
Sun Jie, Legal Representative, General Manager and
Director
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Ø Working experience
(s):
At
present, working in SC as legal representative, general manager and director
Sun Bin (孙斌), Chairman
----------------------------------
Ø
Gender: M
Ø Working experience
(s):
At
present, working in SC as chairman
Director
-----------
Dong
Shuo
Xu
Wenyu
Yin
Pengwei
Supervisor
---------------
Hu
Weifang
Song
Xuefei
Cai
Linghong
BUSINESS OPERATION
SC’s registered business scope includes industry
investment; indoor & outdoor decorating engineering, landscape engineering;
building integrated wiring; engineering testing; property management;
housekeeping service; selling building materials, decoration materials,
computer accessories, communication equipment, textiles, textile raw materials,
asphalt, fuel oil, and precious metal; economic information consulting;
importing and exporting commodities and technology; renting building machinery,
and machinery; and renting automobiles.
SC is mainly
engaged in international trade and industry investment.
SC sources its products 80% from domestic
market, and 20% from overseas market. SC sells 60% of its products in domestic
market, and 40% to overseas 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, L/C and Credit of 30-60 days.
Staff & Office:
--------------------------
SC is known
to have approx. 13 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’s supplier
refused to make any comments.
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, 2014 |
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Current assets |
71,960 |
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Fixed assets |
290 |
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------------- |
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Total assets |
72,250 |
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Current liabilities |
62,350 |
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------------- |
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Total
liabilities |
62,350 |
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Equities |
9,900 |
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------------- |
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Revenue |
76,290 |
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Cost of sales |
71,830 |
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Profits |
1,570 |
Important Ratios
=============
|
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As of Dec. 31, 2014 |
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*Current ratio |
1.15 |
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*Quick ratio |
-- |
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*Liabilities
to assets |
0.86 |
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*Net profit
margin (%) |
2.06 |
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*Return on
total assets (%) |
2.17 |
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*Inventory /
Revenue ×365 |
-- |
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*Accounts
receivable / Revenue ×365 |
-- |
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*Revenue /
Total assets |
1.06 |
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*Cost of sales
/ Revenue |
0.94 |
FINANCIAL COMMENTS
PROFITABILITY:
AVERAGE
l The revenue of SC
appears average in its line.
l SC’s net profit
margin is average.
l SC’s return on
total assets is average.
l SC’s cost of sales
is high, comparing with its revenue.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a normal
level.
l
SC’s revenue is in an average level, comparing with
the size of its total assets.
LEVERAGE: FAIR
l
The debt ratio of SC is high.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly Stable.
CONCLUSIONS
SC is considered small-sized in its line with fairly stable financial
conditions. Taking into consideration of SC’s good background.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.64.05 |
|
|
1 |
Rs.99.04 |
|
Euro |
1 |
Rs.71.76 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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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.