MIRA INFORM REPORT
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Report No. : |
350870 |
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Report Date : |
24.11.2015 |
IDENTIFICATION DETAILS
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Name : |
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Registered Office : |
Room 405, NO. 9, Lane 231, Greenland Avenue, Huaqiao, Kunshan,
Suzhou, Jiangsu Province, 215332 PR |
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Country : |
China |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
26.05.2010 |
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Com. Reg. No.: |
320583000373261 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Subject is engaged in selling of chemical products,
building materials, daily provisions, mechanical, electrical and mechanical
equipment, electronic products, cosmetics, toys, craft gift; import and
export of goods and technology; investment consulting (except brokerage),
exhibition services (except sales exhibition), marketing planning. |
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No. of Employee : |
Not Available |
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 : |
No complaints |
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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
UNIPROMA BUSINESS CO., LTD.
ROOM 405, NO. 9, LANE 231, Greenland Avenue, Huaqiao,
Kunshan,
Suzhou, Jiangsu PROVINCE, 215332 PR CHINA
TEL: 86 (0)
512-57606800/21-39254391 FAX: 86 (0)
21-39254397
EXECUTIVE
SUMMARY
INCORPORATION DATE :
MAY 26, 2010
REGISTRATION
NO. : 320583000373261
REGISTERED
LEGAL FORM : LIMITED LIABILITIES COMPANY
CHIEF
EXECUTIVE : LIU MINGZHI (LEGAL REPRESENTATIVE)
STAFF
STRENGTH : N/A
REGISTERED
CAPITAL :
CNY 500,000
BUSINESS LINE :
TRADING
TURNOVER :
CNY 6,553,000 (AS OF DEC. 31, 2014)
EQUITIES :
CNY 310,000 (AS OF DEC. 31, 2014)
PAYMENT :
NO COMPLAINTS
RECOMM. CREDIT RANGE :
UP TO USD 2,000
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
FAIRLY STABLE
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.35 = 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 co. at local Administration for
Industry & Commerce (AIC - The official body of issuing and renewing
business license) on May 26, 2010.
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 of chemical products, building
materials, daily provisions, mechanical, electrical and mechanical equipment,
electronic products, cosmetics, toys, craft gift; import and export of goods
and technology; investment consulting (except brokerage), exhibition services
(except sales exhibition), marketing planning.
SC
is mainly engaged in trading of goods.
Liu
Mingzhi is legal representative, general manager and executive director of SC
at present.
SC’s
number of employees is not
available at present.
SC
is currently operating at the above stated address, and this address houses its
operating office in Kunshan. Detailed premise information is not available at
present.
http://www.uniproma.com
The design is professional and the content is well organized. At present it is
in Chinese and English versions.
Email:
info@uniproma.com
; zhiqiang.wang@uniproma.com
For
the past two years there is no record of litigation.
No
significant changes were found during our checks with the local Administration
for Industry and Commerce.
Organization
Code: 555897915
MAIN
SHAREHOLDERS:
Name %
of Shareholding
Wang
Zhiqiang 1
Liu
Mingzhi 99
Legal Representative, General Manager and Executive Director:
Liu
Mingzhi is currently responsible for the overall management of SC.
Working
Experience(s):
At
present Working in SC
as legal representative, general manager and executive director.
Supervisor:
Wang
Zhiqiang
SC
is mainly engaged in trading of goods.
SC’s
products mainly include: personal care, cosmetics and nutrition.
SC
sources its materials from domestic market and overseas market. SC sells its
products to overseas market and 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, L/C and Credit of 30-60 days.
Note:
SC declined to release its major suppliers and clients.
Trademark & Patents
N/A
Uniproma
Chemical Co., Limited (Hong Kong)
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CR
No.: 1209115
Company
Type: Private company limited
by shares
Date
of Incorporation: 01-FEB-2008
Active
Status: Live
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’s
accountant refused to release the bank details.
Financial Summary
===============
Unit:
CNY’000
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As of Dec. 31, 2013 |
As of Dec. 31, 2014 |
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Total liabilities |
199 |
276 |
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Equities |
89 |
310 |
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-------------------- |
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Total assets |
288 |
586 |
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============= |
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Turnover |
1,975 |
6,553 |
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Profit before tax |
186 |
221 |
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Profits |
186 |
221 |
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Note: SC’s management refused to release its detailed financial
reports.
Important Ratios
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As of Dec. 31, 2013 |
As of Dec. 31, 2014 |
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*Liabilities to assets |
0.69 |
0.47 |
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*Net profit margin (%) |
9.42 |
3.37 |
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*Return on total assets (%) |
64.58 |
37.71 |
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*Turnover/Total assets |
6.86 |
11.18 |
PROFITABILITY: AVERAGE
The turnover of SC appears average in its line in both years and it increased in
2014.
SC’s
net profit margin is fairly good in 2013
but average in 2014.
SC’s
return on total assets is good in both years.
SC’s
turnover is in a good level in both years,
comparing with the size of its total assets.
LEVERAGE: AVERAGE
The
debt ratio of SC is average in 2013 but low in 2014.
The
risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fairly Stable.
SC
has been in its line for 5 years 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.66.35 |
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1 |
Rs.100.66 |
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Euro |
1 |
Rs.70.47 |
INFORMATION DETAILS
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Analysis Done by
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KAS |
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Report Prepared
by : |
TRU |
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.