MIRA INFORM REPORT
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Report No. : |
349142 |
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Report Date : |
13.11.2015 |
IDENTIFICATION DETAILS
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Name : |
CHINA TIANCHEN ENGINEERING CORPORATION |
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Registered Office : |
No. 1 Jingjin Highway, Beichen District, Tianjin 300400 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
26.10.1992 |
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Com. Reg. No.: |
120000000001586 |
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Legal Form : |
One-Person Limited Liabilities Company |
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Line of Business : |
Subject is engaged in domestic and overseas engineering designing,
technology researching, technology consulting and purchasing the related
equipment & materials, engineering general contract, supervision,
environment evaluation, engineering exploration; importing and exporting the
related materials and equipment ( excluding the items prohibited by country);
externally dispatching the related labor service personnel; importing and
exporting commodities and technology (excluding the items prohibited by laws and administrative regulation); acting for bidding
projects. |
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No. of Employee : |
1,543 |
RATING & COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
Regular |
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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 – March 31, 2015
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Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
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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. 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 for the first time in modern history. Still, China's per capita income is below the world average.
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 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 2014 more than 274 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 also implemented several economic reforms in 2014, including passing legislation to allow local governments to issue bonds, opening several state-owned enterprises to further 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
CHINA TIANCHEN
ENGINEERING CORPORATION
NO. 1 JINGJIN HIGHWAY, BEICHEN DISTRICT, TIANJIN 300400 PR CHINA
TEL: 86 (0) 22-23407397/86810033/86810358
FAX: 86 (0) 22-86810056
***Note: The “No. 521
Jingjin Highway, Beichen District, Tianjin” was SC’s former address and the
current address should be the heading one.
EXECUTIVE
SUMMARY
Date of Registration : OCTober 26, 1992
REGISTRATION NO. : 120000000001586
LEGAL FORM : one-person Limited liabilities company
REGISTERED CAPITAL :
cny 500,000,000
staff : 1,543
BUSINESS CATEGORY :
ENGINEERING
Revenue :
CNY 9,400,060,000 (AS OF DEC. 31, 2014)
EQUITIES :
CNY 2,345,300,000 (AS OF DEC. 31, 2014)
WEBSITE : www.china-tcc.com
E-MAIL : webmaster@china-tcc.com
PAYMENT : REGULAR
MARKET CONDITION : competitive
FINANCIAL CONDITION : stable
OPERATIONAL TREND : steady
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY 6.37 = USD
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 with State
Administration for Industry & Commerce (SAIC) under registration No.:
120000000001586.
SC’s Organization Code Certificate
No.: 10306386-4
SC’s Tax No.: 120113103063864
SC’s registered capital: CNY 500,000,000
SC’s paid-in capital: CNY 500,000,000
Registration Change Record:
|
Date |
Change of Contents |
Before the change |
After the change |
|
-- |
Registration No. |
1200001000747 |
120000000001586 |
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Legal Representative |
Yan Yipei |
Wang Zhiyuan |
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Registered Capital |
CNY 40,000,000 |
CNY 60,000,000 |
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Company Name |
China Tianchen Chemical Engineering Corporation |
China Tianchen Engineering Corporation |
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-- |
Company Chinese Name |
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Shareholder (s) (% of Shareholding) |
China National Chemical Engineering Group Corporation 100% |
China National Chemical Engineering Co., Ltd. 司 100% |
|
-- |
Registered Capital |
CNY 60,000,000 |
CNY 163,000,000 |
|
2011 |
Registered Capital |
CNY 163,000,000 |
CNY 243,900,000 |
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2011 |
Registered Capital |
CNY 243,900,000 |
CNY 246,900,000 |
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Registered Capital |
CNY 246,900,000 |
CNY 500,000,000 |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
China National Chemical Engineering Co., Ltd. |
100 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative,
Chairman, and General Manager |
Wang Zhiyuan |
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Deputy General Manager |
Lou Baohua |
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Gao Yandong |
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Zhou Mingsheng |
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Yuan Xuemin |
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Director |
Liu Yi |
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Jia Jindong |
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Supervisor |
Tong Yongmei |
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Gao Hongming |
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|
Pi Baoquan |
RECENT
DEVELOPMENT
SC obtained the certifications for ISO 9001, ISO 14001, GB/T28001
Occupational Safety & Health and Environmental Management system.
SHAREHOLDER CHART & BACKGROUND
Name %
of Shareholding
China National Chemical Engineering Co.,
Ltd. 100
-----------------------------------
China National Chemical Engineering Co.,
Ltd. (abbreviated as CNCEC) is a share holding company sponsored principally by
China National Chemical Engineering Group Corporation in combination with
Shenhua Group Corporation Limited and Sinochem Corporation. CNCEC listed on
Shanghai Stock Exchange Corporation with code
Registration No.: 100000000041837
Legal Representative: Lu Hongxing
Registered Capital: CNY 4,933,000,000
Address: No. 2 Dongzhimennei Street,
Dongcheng District, Beijing
Postcode: 100007
Tel: 86-10-59765697
Fax: 86-10-59765659
E-mail: cncec@cncec.com.cn
Web: www.cncec.com.cn
MANAGEMENT
Wang
Zhiyuan , Legal Representative, Chairman, and
General Manager
-------------------------------------------------------------------------------------------------------
Ø Gender: M
Ø Qualification:
University
Ø Working experience
(s):
At present, working in SC as legal
representative, chairman, and general manager
Lou Baohua
, Deputy General Manager
--------------------------------------------------------------
Ø Gender: M
Ø Qualification:
University
Ø Working experience
(s):
At present, working in SC as deputy
general manager
Gao
Yandong , Deputy General Manager
----------------------------------------------------------------
Ø Gender: M
Ø Qualification:
University
Ø Working experience
(s):
At present, working in SC as deputy
general manager
Zhou
Mingsheng, Deputy General Manager
--------------------------------------------------------------------
Ø Gender: M
Ø Qualification:
University
Ø Working experience
(s):
At present, working in SC as deputy
general manager
Yuan
Xuemin,
Deputy General Manager
----------------------------------------------------------------
Ø Gender: M
Ø Qualification:
University
Ø Working experience
(s):
At present, working in SC as deputy
general manager
Director
-----------
Liu Yi
Jia Jindong
Supervisor
--------------
Tong Yongmei
Gao Hongming
Pi Baoquan
BUSINESS
OPERATION
SC’s registered
business scopes include: domestic and overseas engineering designing,
technology researching, technology consulting and purchasing the related
equipment & materials, engineering general contract, supervision,
environment evaluation, engineering exploration; importing and exporting the
related materials and equipment ( excluding the items prohibited by country);
externally dispatching the related labor service personnel; importing and
exporting commodities and technology (excluding the items prohibited by laws and administrative regulation); acting for bidding
projects.
SC is
mainly engaged in engineering contracting and designing.
SC’s business
mainly include: project planning, feasibility studying, engineering designing,
equipment & materials procurement, construction management and project
supervision in the fields of petrochemical, fine chemical, organic &
inorganic chemical, coal chemical, pharmaceutical and light & textile
industries, storage & handling system, the industrial & civil building
and municipal engineering.
Project achievements:
SC sources its materials 80% from domestic market and
20% from overseas market; SC sells 70% of its products in domestic market and
30% 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. 1,543
staff at present.
SC
owns an area as its operating office, but the detailed information is unknown.
RELATED
COMPANY
n
Shanghai Branch
---------------------------
Add:
Post
Code: 200233
Tel:
86-21-64953655
Fax:
86-21-64951609
n
Heilongjiang Branch
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Add:
524 Xinyang Road, Daoli District, Harbin, Heilongjiang Province
Post
code: 150076
Tel:
86-451-4835804
Fax:
86-451-4605824
n
Ningbo Office
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Add:
No. 1005 & 1007 office, Tower B, Business Building, 773 Mingzhou Road,
Ningbo Economical and Technology Developing Area, Ningbo
Post
code: 315800
Tel:
86-574-86868999
n Tianjin Chenda Engineering
Supervision Company
------------------------------------
Add: 521 Jingjin Road,
Beichen District, Tianjin, China
Tel: 86-22-86810313
86-22-86810312 86-22-86810316
Fax: 86-22-86810310
Post Code: 300400
n Tianjin Chenchuang
Environmental Engineering Technology Company
------------------------------------------------
Tel: 86-22-86810305
86-22-86810402
Fax: 86-22-86810306
E-mail: yonghui.li@ccfkc.com
n Tianjin Chenxing Cost Engineer
and Consulting Company
---------------------------------------------------
Add: 521 Jingjin Road,
Beichen District, Tianjin, China
Post Code: 300400
n Technip Tianchen Chemical
Engineering (Tianjin) Company
--------------------------------------------------
Add: 521 Jingjin Road,
Beichen District, Tianjin, China
Post Code: 300400
n Tianjin Campell Tianchen
Energy Equipment Technology Consulting Service Company
------------------------------------------------------------
Add: 521 Jingjin Road,
Beichen District, Tianjin, China
Tel: 86-22-86810066
86-22-86810319
Fax: 86-22-86816224
Post Code: 300400
Email: yangsb@china-tcc.com
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 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
Basic Bank
Industrial and
Commercial Bank of China Tianjin City Jingjin Road Sub-branch
AC#: 0302035109031968166
FINANCIALS
Financial Summary
|
Unit: CNY’000 |
As
of Dec. 31, 2013 |
As
of Dec. 31, 2014 |
|
Total assets |
10,310,430 |
10,712,610 |
|
|
------------- |
------------- |
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Total
liabilities |
8,425,550 |
8,367,310 |
|
Equities |
1,884,880 |
2,345,300 |
|
|
------------- |
------------- |
|
Revenue |
6,381,640 |
9,400,060 |
|
Profit before
tax |
581,650 |
638,850 |
|
Less: profit tax |
82,100 |
93,710 |
|
Profits |
499,550 |
545,140 |
Important Ratios
=============
|
|
As
of Dec. 31, 2013 |
As
of Dec. 31, 2014 |
|
*Liabilities
to assets |
0.82 |
0.78 |
|
*Net profit
margin (%) |
7.83 |
5.80 |
|
*Return on
total assets (%) |
4.85 |
5.09 |
|
*Revenue/Total
assets |
0.62 |
0.88 |
FINANCIAL
COMMENTS
PROFITABILITY:
FAIRLY GOOD
l The revenue of SC appears fairly good in its line.
l SC’s net profit
margin is fairly good.
l SC’s return on
total assets is fairly good.
LIQUIDITY:
FAIR
l
SC’s revenue is in a
fair level, comparing with the size of its total assets.
LEVERAGE:
FAIRLY GOOD
l
The debt ratio of SC is average.
l
The risk for SC to go bankrupt is low.
Overall financial
condition of the SC: Stable.
CONCLUSIONS
SC is considered a large-sized company in its line with stable financial
conditions. Taking into consideration of SC’s good background.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.35 |
|
|
1 |
Rs.100.28 |
|
Euro |
1 |
Rs.71.30 |
INFORMATION DETAILS
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Analysis Done by
: |
DIV |
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Report Prepared
by : |
ASH |
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 |
|
<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.