MIRA INFORM REPORT
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Report No. : |
344232 |
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Report Date : |
06.10.2015 |
IDENTIFICATION DETAILS
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Name : |
TANGSHAN FENGZHAN IMPORT AND EXPORT TRADING CO.,
LTD. |
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Registered Office : |
East Of Yinchengpu, Fengrun District, Tangshan, Hebei Province,
064099 Pr |
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Country : |
China |
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Financials (as on) : |
31.12.2014 |
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Date of Incorporation : |
27.09.2012 |
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Com. Reg. No.: |
130221000034382 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
· Engaged in wholesaling and retailing black metal materials (excluding productive scrap metal material), building materials (excluding wood and timber) and chemical products (excluding poisonous, flammable, pesticides and other items limited, prohibited by state laws and regulations) as well as importing and exporting commodities. · engaged in selling steel including angle steel, channel steel & flat steel |
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No of Employees : |
20 (Approximately) |
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.
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 and
expanded 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 2013 stood as the second-largest economy in the world after the US, having
surpassed Japan in 2001. The dollar values of China's agricultural and
industrial output each exceed those of the US; China is second to the US in the
value of services it produces. 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
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Source : CIA |
Company
name & address
TANGSHAN FENGZHAN IMPORT AND
EXPORT TRADING Co., Ltd.
EAST OF YINCHENGPU, FENGRUN DISTRICT, TANGSHAN,
HEBEI PROVINCE, 064099 PR CHINA
TEL: 86 (0) 315-5019008/5018103
FAX: 86 (0)
315-5019003/5019555
EXECUTIVE
SUMMARY
INCORPORATION DATE : SEP. 27, 2012
REGISTRATION NO. : 130221000034382
REGISTERED LEGAL FORM : LIMITED LIABILITIES CO.
CHIEF EXECUTIVE :
MR. SUN JIANWEI (CHAIRMAN)
STAFF STRENGTH : 20 (Approximately)
REGISTERED CAPITAL : CNY 20,000,000
BUSINESS LINE : TRADING
TURNOVER : CNY 1,670,900,000 (UNAUDITED, AS OF DEC. 31, 2014)
EQUITIES : CNY 20,370,000 (UNAUDITED, AS OF DEC. 31, 2014)
PAYMENT : Slow but Correct
MARKET CONDITION : AVERAGE
FINANCIAL CONDITION : FAIRLY STABLE
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : AVERAGE
EXCHANGE RATE : CNY
6.2399 = 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 Sep. 27, 2012.
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 wholesaling and retailing black metal materials (excluding
productive scrap metal material), building materials (excluding wood and
timber) and chemical products (excluding poisonous, flammable, pesticides and
other items limited, prohibited by state laws and regulations); importing and
exporting commodities.
SC is mainly
engaged in selling steel.
Mr.
Sun Jianwei has been the legal representative,
chairman and general manager of SC since 2012.
SC is
known to have approx. 20 employees at present.
SC
is currently operating at the above stated address,
and this address houses its operating office in Tangshan. Our checks reveal
that SC rents the total premise, but the gross area of the premise is
unspecific.
SC is not known to host web site of its own at present.
Email: 25860323@qq.com
Changes of its
registered information are as follows:
|
Date of change |
Item |
Before the change |
After the change |
|
2013-12 |
Registered capital |
CNY 1,000,000 |
Present amount |
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Shareholdings |
Yao Fuli 50% Sun Jianwei 50% |
Yao Fuli 2.5% Sun Jianwei 97.5% |
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|
2014-8-5 |
Shareholdings |
Yao Fuli 2.5% Sun Jianwei 97.5% |
Present ones |
SC was taken into operation in January of 2013.
Subject passed the annual inspection of 2012 with
Administration for Industry & Commerce.
Organization Code: 055451925
There is no record of litigation till now.
MAIN SHAREHOLDERS:
Name
%
of Shareholding
Gao Xiurong 2.5
Sun Jianwei 97.5
Legal Representative, Chairman and General Manager:
Mr. Sun Jianwei is currently responsible for the overall management of SC.
Working
Experience(s):
From 2012 to present Working in SC as legal representative, chairman and general manager.
Supervisor:
Gao Xiurong
SC is mainly
engaged in selling steel.
SC’s products mainly include: angle steel, channel steel & flat
steel
SC was taken into operation in January of 2013.
SC sources its
materials 100% from domestic market. SC sells 60% of its products to overseas
market, and 40% in domestic 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, Check and Credit of 30-60 days.
Note:
SC’s management declined to release its major suppliers and clients.
Hebei Yuxuan International Trading Co., Ltd.
=================================
Incorporation
Date : Sep. 25, 2007
Registration
No. :
130221000002380
Registered
Legal Form : Limited
Liabilities Co.
Chief
Executive : Mr.
Han Zhiping (Chairman)
Registered
Capital : CNY
30,000,000
Add:
East of Yinchengpu, Fengrun District, Tangshan, Hebei Province
Tel:
86 (0) 315-5019008/0315-5018373
Fax:
86 (0) 315-5019003
Web:
http://www.yuxuansteel.com/
Email:
haigangyuxuan888@126.com
Tangshan
Fengrun District Zhonghe Trade Co., Ltd.
======================================
Registration
no.: 130221000014467
Registered
capital: CNY 30,000,000
Legal
representative: Zhang Hao
Incorporation
date: 2007-11-16
Legal
form: Limited Liabilities Co.
Overall payment appraisal:
( ) Excellent (
) Good (X) Slow but Correct
( ) 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.
Agricultural
Bank of China Tangshan Xincheng Sub-branch
AC#：N/A
Relationship:
Normal
Balance Sheet
Unit: CNY’000
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as
of Dec. 31, 2013 |
as
of Dec. 31, 2014 |
|
Cash & bank |
2,830 |
19,130 |
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Notes receivable |
73,000 |
3,000 |
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Inventory |
37,200 |
92,390 |
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Accounts
receivable |
0 |
37,750 |
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Advances to
suppliers |
11,880 |
11,660 |
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Other
receivables |
3,760 |
12,290 |
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Other current assets |
0 |
0 |
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------------------ |
------------------ |
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Current assets |
128,670 |
176,220 |
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Fixed assets net
value |
10 |
20 |
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Projects under
construction |
0 |
0 |
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Long term
investment |
0 |
0 |
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Other assets |
0 |
0 |
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------------------ |
------------------ |
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Total assets |
128,680 |
176,240 |
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============= |
============= |
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Short loans |
68,650 |
7,500 |
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Accounts payable |
0 |
0 |
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Other payable |
60 |
163,570 |
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Accrued payroll |
100 |
0 |
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Taxes payable |
-1,140 |
-15,200 |
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Advances from
clients |
40,810 |
0 |
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Other current
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Current
liabilities |
108,480 |
155,870 |
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Long term
liabilities |
0 |
0 |
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------------------ |
------------------ |
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Total
liabilities |
108,480 |
155,870 |
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Equities |
20,200 |
20,370 |
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------------------ |
------------------ |
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Total
liabilities & equities |
128,680 |
176,240 |
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Income Statement
Unit: CNY’000
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as of Dec. 31,
2013 |
as of Dec. 31,
2014 |
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Turnover |
985,460 |
1,670,900 |
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Cost of goods
sold |
965,220 |
1,646,880 |
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Taxes
and additional of main operation |
490 |
720 |
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Sales expense |
14,910 |
21,520 |
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Management expense |
1,570 |
1,390 |
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Finance expense |
3,000 |
70 |
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Profit before
tax |
270 |
320 |
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Less: profit tax |
70 |
80 |
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Profits |
200 |
240 |
Note: The Financial Report for Year 2014 hasn’t been audited.
Important Ratios
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as
of Dec. 31, 2013 |
as
of Dec. 31, 2014 |
|
*Current ratio |
1.19 |
1.13 |
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*Quick ratio |
0.84 |
0.54 |
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*Liabilities
to assets |
0.84 |
0.88 |
|
*Net profit
margin (%) |
0.02 |
0.01 |
|
*Return on
total assets (%) |
0.16 |
0.14 |
|
*Inventory
/Turnover ×365 |
14 days |
20 days |
|
*Accounts
receivable/Turnover ×365 |
/ |
8 days |
|
*Turnover/Total
assets |
7.66 |
9.48 |
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* Cost of
goods sold/Turnover |
0.98 |
0.99 |
PROFITABILITY:
AVERAGE
l
The turnover of SC appears fairly good in its line
in 2013 and good in 2014.
l
SC’s net profit margin is average in both years.
l
SC’s return on total assets is average in both
years.
l
SC’s cost of goods sold is high in both years,
comparing with its turnover.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a normal
level in both years.
l
SC’s quick ratio is maintained in a normal level in
2013 but fair in 2014.
l
The inventory of SC appears average in 2013, but
fairly large in 2014.
l
SC’s accounts receivable is average in 2014.
l
The short-term loan appears large in 2013, and
average in 2014.
l
SC’s turnover is in a good level in both years,
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.
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.65.29 |
|
|
1 |
Rs.99.31 |
|
Euro |
1 |
Rs.73.39 |
INFORMATION DETAILS
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Report Prepared
by : |
TPT |
This report is issued at your request without any
risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL)
or its officials.
S