MIRA INFORM REPORT
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Report No. : |
343052 |
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Report Date : |
01.10.2015 |
IDENTIFICATION DETAILS
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Name : |
NINGBO HANMENG SILICONE PRODUCTS CO., LTD. |
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Registered Office : |
No. 28 Dongsheng Xiaoqu, Zhanqi Town, Yinzhou District Ningbo, Zhejiang Province 315040 Pr China |
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Country : |
China |
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Date of Incorporation : |
20.04.2014 |
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Com. Reg. No.: |
330212000389700 |
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Legal Form : |
Limited Liability Company |
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Line of Business : |
SC is engaged in manufacturing, processing and selling of
silicone products. |
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No. of Employees : |
18 |
RATING & COMMENTS
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MIRA’s Rating : |
NB |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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-- |
NB |
New Business |
-- |
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Status : |
New Business |
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Payment Behaviour : |
Unknown |
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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 |
NOTE
In absence of financials, no credit limit could be recommended.
Company
name and address
NINGBO HANMENG SILICONE
PRODUCTS CO., LTD.
NO. 28 DONGSHENG XIAOQU, ZHANQI TOWN, YINZHOU DISTRICT
NINGBO, ZHEJIANG PROVINCE 315040 PR CHINA
TEL: 86 (0) 13808803446
FAX: 86 (0) 574-88021060
EXECUTIVE
SUMMARY
Date of Registration : april 10, 2014
REGISTRATION NO. : 330212000389700
LEGAL FORM : Limited Liability Company
REGISTERED CAPITAL : CNY 1,000,000
staff : 18
BUSINESS CATEGORY : MANUFACTURING & PROCESSING
& TRADING
Revenue : n/a (AS OF
DEC. 31, 2014)
EQUITIES :
n/a (AS OF DEC. 31, 2014)
WEBSITE : www.sunmoonsilicone.com
E-MAIL : hanmei86@hotmail.com
PAYMENT : AVERAGE
Recommended Credit Limit : c.o.d.
MARKET CONDITION : fair
FINANCIAL CONDITION : n/a
OPERATIONAL TREND : fair
GENERAL REPUTATION : fair
EXCHANGE RATE : CNY 6.37 = 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 a limited liabilities company of PRC with State Administration
of Industry & Commerce (SAIC) under registration No.: 330212000389700 on April 10, 2014.
SC’s Organization Code Certificate
No.: 09758259-5
SC’s Tax No.: 330227097582595
SC’s registered capital: CNY 1,000,000
SC’s paid-in capital: CNY 1,000,000
Registration Change Record:-
No significant changes of SC have
been noted in SAIC since its incorporation.
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Wang Hanmei |
70 |
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Yan Yeting |
20 |
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He Xiaojia |
10 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman
and General Manager |
Wang Hanmei |
|
Supervisor |
Yan Yeting |
RECENT
DEVELOPMENT
No recent development was found during our checks at
present.
SHAREHOLDER
CHART & BACKGROUND
Name
%
of Shareholding
Wang Hanmei 70
Yan Yeting 20
He Xiaojia 10
MANAGEMENT
Wang
Hanmei, Legal
Representative, Chairman and General Manager
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Ø
Gender: F
Ø
Nationality: China
Ø Qualification:
University
Ø Working
experience (s):
At present, working in SC as
legal representative, chairman and general manager
Supervisor
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Yan Yeting
BUSINESS
OPERATION
SC’s registered business scope
includes manufacturing, processing and selling silicone products,
rubber products, plastic products, stationery, hardware, handicrafts,
electronic products, and lamps; importing and exporting commodities and
technology.
SC is
mainly engaged in manufacturing, processing and selling silicone products.
SC’s
products mainly include:
Silicon
Lunch Box
Silicon
Spatula
Silicon
Lid
Silicon
Spoon
Silicon
Baby Products
Silicon
Mat
Silicon
Glove
Silicon
Cake Molds
Silicon
Chocolate Molds
Silicon
other molds
SC sources its materials 100% from domestic market. SC sells 20% of its products in domestic market, and 80% to overseas market.
The
buying terms of SC include Check, T/T and Credit of 30-60 days. The payment
terms of SC include T/T, L/C and Credit of 30-60 days.
Staff & Office:
--------------------------
SC is
known to have approx. 18
staff at present.
SC
rents an area as its operating office and factory, 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
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
The bank
information of SC is not filed in SAIC.
FINANCIALS
SC’s financials are not filed in
local SAIC, and SC also refused to release the details.
CONCLUSIONS
SC is considered small-sized in its line with short history.
Great caution is required in providing credit to SC & C.O.D. is
recommended.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.65.74 |
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UK Pound |
1 |
Rs.99.53 |
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Euro |
1 |
Rs.73.80 |
INFORMATION DETAILS
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Analysis Done by
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RAS |
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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.