MIRA INFORM REPORT
|
Report No. : |
343851 |
|
Report Date : |
14.10.2015 |
IDENTIFICATION DETAILS
|
Name : |
HUANGSHAN RUNSOL IMPORT AND EXPORT CO., LTD. |
|
|
|
|
Registered Office : |
South 2nd Road, Xincheng District, Haiyang Town, Xiuning Economic
Development Zone, Huangshan City, Anhui Province, 245400 Pr |
|
|
|
|
Country : |
China |
|
|
|
|
Date of Incorporation : |
25.03.2015 |
|
|
|
|
Com. Reg. No.: |
341022000020963 |
|
|
|
|
Legal Form : |
One-Person Limited Liability Company |
|
|
|
|
Line of Business : |
Subject is engaged in trading of goods. Products mainly include photovoltaic solar tracker, solar tracking
stents, stents, solar street light, LED light, concentrating photovoltaic
modules |
|
|
|
|
No. of Employee : |
20 |
RATING & COMMENTS
|
MIRA’s Rating : |
NB |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
-- |
NB |
New Business |
-- |
|
Status : |
New business |
|
|
|
|
Payment Behaviour : |
Unknown |
|
|
|
|
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
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
China |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
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.
|
Source
: CIA |
Company
name and address
HUANGSHAN RUNSOL IMPORT AND EXPORT CO., LTD.
South 2nd Road, xincheng district,
haiyang town, xiuning economic development zone, huangshan city, anhui
province, 245400 PR CHINA
TEL: 86 (0) 559-7716888/7715666 FAX: 86 (0) 559-7714444
EXECUTIVE
SUMMARY
INCORPORATION DATE :
MARCH 25, 2015
REGISTRATION NO. : 341022000020963
REGISTERED LEGAL FORM : ONE-PERSON LIMITED LIABILITY COMPANY
CHIEF EXECUTIVE : MR. SONG QIANG (LEGAL REPRESENTATIVE)
STAFF STRENGTH : 20
REGISTERED CAPITAL : CNY 5,000,000
BUSINESS LINE :
TRADING
TURNOVER : N/A
EQUITIES : N/A
PAYMENT : AVERAGE
RECOMM. CREDIT RANGE : C.O.D.
MARKET CONDITION : FAIR
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : SUBJECT
TO LONGER PERIOD OF OBSERVATION
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE : CNY 6.3236 = USD
1 AS OF 2015-10-13
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 March 25, 2015.
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 self-management and agent all
kinds of goods and technology import and export (excluding items prohibited, designated
and restricted management by the state). (With permit if needed)
SC is mainly engaged in trading of goods.
Mr. Song Qiang is the legal representative,
director and general manager of SC at present.
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 the economic development zone of Huangshan. Detailed premise information is not available at present.
www.chrunsol.com The website belongs to Huangshan Runsol New
Energy Technology Co., Ltd. The design is professional and the
content is well organized. At present it is in English and Chinese versions.
SC was taken into operation in September, 2015.
Organization Code: 335654655
MAIN SHAREHOLDERS:
Name % of Shareholding
Huangshan Runsol New Energy Technology Co., Ltd. 100
Incorporation Date: 2013-10-23
Registered No.: 341022000017201
Registered Capital: CNY 45,680,000
Legal Representative: Gu Quanjun
Tel.: 86 (0) 559-7716666
Fax: 86 (0) 559-7714444
E-mail: hsrunsol@chrunsol.com
Website: http://www.chrunsol.com/
Legal Representative, Director and General Manager:
Mr. Song Qiang is currently responsible for the daily management of SC.
Working
Experience(s):
At present Working in SC as legal representative,
director and general manager.
Also working in Huangshan Runsol New Energy Technology Co., Ltd. and
Huangshan Jinpusen New Energy Technology Co., Ltd. as director.
Chairman:
Mr. Gu Quanjun is currently responsible for the overall management of
SC.
Working
Experience(s):
At present Working in SC as chairman.
Also working in Huangshan Runsol New Energy Technology Co., Ltd.,
Zhejiang Jinpusen New Energy Technology Co., Ltd. and Huangshan Jinpusen New
Energy Technology Co., Ltd. as legal representative.
Director:
Sun Haitao
Supervisor:
Wu Yubiao
SC is mainly engaged in trading of goods.
SC’s products mainly include photovoltaic solar tracker, solar tracking
stents, stents, solar street light, LED light, concentrating photovoltaic
modules, etc.
SC was taken into operation in September, 2015.
SC sources its materials 70% from domestic market and 30% from overseas
market. SC sells 20% of its products in domestic market, and 80% 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.
Note: SC declined
to release its main clients and suppliers.
Kunshan Runsol New Energy Technology Co., Ltd.
========================
Incorporation date: 2011-06-15
Registration no.: 320583000460617
Legal Representative: Sun Haitao
Phone: 86 (0) 512-50173022
Fax: 86 (0) 512-50173026
Website: http://www.runsolenergy.com
Email: runsol99@runsolenergy.com
Huangshan Jinpusen New Energy Technology Co., Ltd.
=====================================
Incorporation Date: 2013-3-25
Registered No.: 341000000047095
Registered Capital: CNY 50,000,000
Legal Representative: Gu Quanjun
Zhejiang Jinpusen New Energy Technology Co., Ltd.
=================================
Incorporation date: 2006-01-12
Registration no.: 330183000073677
Legal Representative: Gu Quanjun
Phone: 86 (0) 571-23297777
Fax: 86 (0) 571-23297778
Website: www.hzjps.com
/ www.chjps.net
Email: jps@chjps.net
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 bank details.
Established on March 25, 2015, SC’s financial statements are not
available at present.
SC is considered small-sized in its line with a short operating history.
Credit should be extended under guarantee, and C.O.D. is recommended.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.65.02 |
|
|
1 |
Rs.99.89 |
|
Euro |
1 |
Rs.73.92 |
INFORMATION DETAILS
|
Analysis Done by
: |
KAR |
|
|
|
|
Report Prepared
by : |
ANK |
RATING EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest
capability for timely payment of interest and principal sums |
Unlimited |
|
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 |
|
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 |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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.