MIRA INFORM REPORT
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Report No. : |
322801 |
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Report Date : |
20.05.2015 |
IDENTIFICATION DETAILS
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Name : |
SHANGHAI RAYSON
CHEMICALS CO., LTD. |
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Registered Office : |
Room 605, Jiurun
Commercial Building, No. 298 Yindu Road, Xuhui District, Shanghai, 200231 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
19.01.2012 |
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Com. Reg. No.: |
310120001970466 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
Subject is engaged in selling chemical raw materials and products. |
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No. of Employee : |
10 |
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 : |
Small company |
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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 AND ADDRESS
SHANGHAI RAYSON CHEMICALS CO., LTD.
ROOM 605, JIURUN
COMMERCIAL BUILDING, NO. 298 YINDU ROAD,
XUHUI DISTRICT,
SHANGHAI, 200231 PR CHINA
TEL: 86 (0)
21-51762152
FAX: 86 (0)
21-61294040
EXECUTIVE
SUMMARY
INCORPORATION DATE :
JAN. 19, 2012
REGISTRATION NO. : 310120001970466
REGISTERED LEGAL FORM :
ONE-PERSON LIMITED LIABILITY COMPANY
CHIEF EXECUTIVE : MR. LOU BAOAN (CHAIRMAN)
STAFF STRENGTH : 10
REGISTERED CAPITAL :
CNY 5,000,000
BUSINESS LINE :
TRADING
TURNOVER : CNY 12,807,000
(AS OF DEC. 31, 2014)
EQUITIES : CNY 5,166,000
(AS OF DEC. 31, 2014)
PAYMENT : AVERAGE
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND :
FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE : CNY 6.2039 = 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 One-person Limited Liability Company at local
Administration for industry & commerce (AIC - the official body of issuing
and renewing business license) on Jan. 19, 2012.
Company Status: One-person Limited Liability Company Single person LLC refers to a limited
liability company set up by only one natural person or legal person as the
single shareholder of it. The minimum registered capital
of Single person LLC is CNY100,000. The shareholder’s capital contributes,
as set out by the articles of associations should be a lump-sum payment in
full. One natural person can only
invest in and set up one limited liability company, which is not permitted
to invest in and set up a new Single person LLC. As to any one-person limited
liability company, the sole-investor nature of the natural person or legal
person shall be indicated in the registration documents of the company and
shall be indicated in the business license thereof as well. The regulation of Single person
LLC should be set up by the shareholder The regulation of Single person
LLC has no shareholder meeting.
SC’s registered business scope includes wholesaling and retailing
chemical raw materials and products (excluding dangerous chemicals, controlled
chemicals, fireworks and civilian explosives, precursor chemicals), cosmetics,
importing and exporting goods and technology.
SC is mainly engaged in selling chemical raw materials and products.
Mr. Lou Baoan is 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 the commercial zone of Shanghai. Detailed
premise information is not available at present.
http://www.raysonchem.com/ The design is professional and the content is
well organized. At present it is in Chinese version.
Email: raysonchem06@126.com
No significant changes were found during our checks with the local
Administration for Industry and Commerce.
Organization Code: 590355425
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Lou Baoan 100
Legal
Representative and Chairman:
Mr. Lou Baoan is currently responsible for the overall management of SC.
Working Experience(s):
At present Working
in SC as legal representative and chairman.
Supervisor:
Wang Maoqun
SC is mainly engaged in selling chemical raw materials and products.
SC’s products
mainly include:
THOR preservatives, glycols, conditioners
Grenera Moringa Extract
Lasons nicotinamide
MilleCare anti-allergy, moisturing and other effects active
American Distilling Hamamelis distillate
RaysonChem Vitamin C ethyl ether, lanolin
Etc.
SC sources its materials 100% from domestic market. SC sells 30% of its
products in domestic market, and 70% to overseas market.
The buying terms of SC include Check, T/T and Credit of 30-60 days. The
payment terms of SC include Check, L/C, T/T and Credit of 30-60 days.
Note: SC refused to release its major clients and suppliers.
Branch:
Shanghai Rayson Chemicals Co., Ltd. No. 1 Branch
=====================================
Registration no.: 310104000529147
Principal: Wang Maoqun汪茂群
Incorporation date: 2012-10-15
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.
SC declined to release its banking details.
Financial
Summary
===============
Unit: CNY’000
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As of Dec. 31, 2014 |
As of Dec. 31, 2013 |
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Total assets |
8,071 |
5,444 |
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========= |
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Total liabilities |
2,905 |
319 |
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Equities |
5,166 |
5,125 |
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-------------- |
-------------- |
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Total liabilities & equities |
8,071 |
5,444 |
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Turnover |
12,807 |
8,046 |
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Profit before tax |
66 |
126 |
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Less: profit tax |
13 |
13 |
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Profits |
53 |
113 |
Note: we did not
find SC’s detailed financial reports.
Important Ratios
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As of Dec. 31, 2014 |
As of Dec. 31, 2013 |
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*Liabilities to assets |
0.36 |
0.06 |
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*Net profit margin (%) |
0.41 |
1.40 |
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*Return on total assets (%) |
0.66 |
2.08 |
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*Turnover/Total assets |
1.59 |
1.48 |
PROFITABILITY:
AVERAGE
The turnover of SC appears average in its line, and it increased in
2014.
SC’s net profit margin remains in an average level.
SC’s return on total assets remains in an average level.
SC’s turnover is in an average level, comparing with the size of its total
assets.
LEVERAGE: AVERAGE
The debt ratio of SC is low.
The risk for SC to go bankrupt is average.
Overall financial condition of the SC: Fairly Stable.
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.63.69 |
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1 |
Rs.99.73 |
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Euro |
1 |
Rs.71.90 |
INFORMATION DETAILS
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Analysis Done by
: |
KAR |
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Report Prepared
by : |
ANK |
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.