MIRA INFORM REPORT
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Report No. : |
345537 |
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Report Date : |
20.10.2015 |
IDENTIFICATION DETAILS
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Name : |
SHANDONG SINCHEM
SILICA GEL co., ltd. |
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Registered Office : |
No. 1, Sinchem Industrial Park, Dongguo Town, Tengzhou City, Shandong Province, 277533 Pr |
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Country : |
China |
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Date of Incorporation : |
02.02.2007 |
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Com. Reg. No.: |
370481228026516 |
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Legal Form : |
Limited Liabilities Co. |
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Line of Business : |
Processing and marketing of paper particles, particles of straw, corn
grain, wood grain; wholesale of living waste paper; processing, sales,
technical services and import and export business of related products of bentonite, montmorillonite and its
products, food additives, activated carbon, silica sol, silica, silica
aluminum silicon glue, silica gel, molecular sieve, calcium silicate, sodium
metasilicate, decoloring agent, adhesives used in industry, beer clarifying
agent and preservative, air purification agents, refrigerator deodorant (odor
absorber), toilet deodorant, air deodorant, animals with detergent, teeth
with lacquer, dental tooth grinding powder and teeth filling material. (With
permit if needed) |
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No. of Employees : |
About 600 |
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 : |
Moderate |
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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 |
Company
Name & address
SHANDONG SINCHEM SILICA GEL co., ltd.
NO. 1, SINCHEM INDUSTRIAL PARK, DONGGUO TOWN, TENGZHOU CITY, SHANDONG
PROVINCE, 277533 PR CHINA
TEL: 86 (0) 632-2528033/2529023 FAX: 86 (0) 632-2528033
EXECUTIVE
SUMMARY
INCORPORATION DATE :
FEB. 2, 2007
REGISTRATION NO. :
370481228026516
REGISTERED LEGAL FORM : LIMITED LIABILITIES CO.
CHIEF EXECUTIVE :
MR. QIU XINGYA (LEGAL
REPRESENTATIVE)
STAFF STRENGTH :
ABOUT 600
REGISTERED CAPITAL : CNY 30,000,000
BUSINESS LINE :
PROCESSING & TRADING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
AVERAGE
MARKET CONDITION :
AVERAGE
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION :
AVERAGE
EXCHANGE RATE :
CNY 6.5299= 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).
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 processing and marketing of
paper particles, particles of straw, corn grain, wood grain; wholesale of
living waste paper; processing, sales, technical services and import and export
business of related products of
bentonite, montmorillonite and its products, food additives, activated carbon,
silica sol, silica, silica aluminum silicon glue, silica gel, molecular sieve,
calcium silicate, sodium metasilicate, decoloring agent, adhesives used in
industry, beer clarifying agent and preservative, air purification agents,
refrigerator deodorant (odor absorber), toilet deodorant, air deodorant,
animals with detergent, teeth with lacquer, dental tooth grinding powder and
teeth filling material. (With permit if needed)
SC is mainly engaged in processing and selling sodium silicate and
silica gel products.
Mr. Qiu Xingya has been the legal representative and executive director
of SC since 2007.
SC is known to have approx. 600
employees at present.
SC is currently operating at the above stated address, and this address
houses its operating office and factory in the industrial zone of Tengzhou. Our
checks reveal that SC rents the total premise but the gross area is
unspecified.
http://www.sinchem.com.cn
The design is professional and the content is well organized. At present, the
web is both in Chinese and English versions.
E-mail: sinchem@188.com; fuqiang@sinchem.net
According to SC’s website, SC’s predecessor was
Tengzhou Xinxu Water Glass Factory.
Qualification:
===========
SC has passed ISO 9001:2008, ISO 14001:2004, SC also won "Chinese
special silicone Incubation Base” in 2005 and SC was awarded “Hi-Tech
Enterprise”, “A Grade Enterprise”, “Advanced Unit”.
Changes of its
registered information:
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Date of change |
Item |
Before the change |
After the change |
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2008-6-10 |
Company’s name |
Tengzhou Hengtai Chemical Co., Ltd. |
Present one |
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Registered capital |
CNY 500,000 |
CNY 6,600,000 |
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Shareholders (% of shareholding) |
Qiu Ronglin 20% Qiu Xingdong 20% Qiu Yuqiu12% Qiu Xinli 12% Qiu Yushen 12% Qiu Guangliang 2% Lin Jiazeng 12% |
Qiu Ronglin 1.52% Qiu Xingdong 1.52% Qiu Xingya 1.52% Qiu Yuqiu 0.91% Qiu Xinli 0.91% Qiu Yushen 0.91% Qiu Guangliang 0.91% Lin Jiazeng 0.91% Dai Zengliang 90.89% |
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2011-4-7 |
Shareholders (% of shareholding) |
Qiu Ronglin 1.52% Qiu Xingdong 1.52% Qiu Xingya 1.52% Qiu Yuqiu仇0.91% Qiu Xinli 0.91% Qiu Yushen 0.91% Qiu Guangliang 0.91% Lin Jiazeng 0.91% Dai Zengliang 90.89% |
Qiu Ronglin 1.52% Qiu Xingdong1.52% Qiu Xingya 1.52% Dai Zengliang 55.44% Aaralyn Int'l Limited (Hong Kong) 40% |
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Registered Legal Form |
limited liabilities co. |
Chinese-Foreign Equity Joint Venture
Enterprise |
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2014-12-31 |
Shareholders & shareholdings |
Qiu Ronglin 1.52% Qiu Xingdong 1.52% Qiu Xingya 1.52% Dai Zengliang 55.44% Aaralyn Int'l Limited (Hong Kong) 40% |
Qiu Ronglin 1.52% Qiu Xingdong 96.96% Qiu Xingya 1.52% |
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Legal Form |
Chinese-Foreign Equity Joint Venture
Enterprise |
Present one |
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2015-1-30 |
Registered capital |
CNY 6,600,000 |
Present amount |
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Shareholders & shareholdings |
Qiu Ronglin 1.52% Qiu Xingdong 96.96% Qiu Xingya1.52% |
Present ones |
Organization Code: 798697504
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name Amount (CNY) % of Shareholding
Qiu Ronglin 10,000,000 33.33
Qiu Xingdong 10,000,000 33.33
Qiu Xingya 10,000,000 33.33
Legal
representative and Executive Director:
Mr. Qiu Xingya, ID# 37048119841210xxxx, born in 1984, he is currently
responsible for the overall management of SC.
Working Experience(s):
From 2007 to present
Working in SC as legal representative and executive director.
General Manager:
Qiu Ronglin is currently
responsible for the daily management of SC.
Working Experience(s):
At present Working in SC as
general manager;
Also working in Tengzhou Xinxu Chemical Co., Ltd. as legal
representative, chairman and general manager, etc.
Supervisor:
Qiu Guangliang
SC is mainly engaged in processing and selling sodium silicate and
silica gel products.
SC’s products mainly include:
Sodium silicate series
White Carbon Black
Industrial silica gel
Civil silica gel
Cat Litter
SC sources its materials 100% from domestic market. SC sells its
products 50% in domestic market, and 50% to overseas market.
The buying terms of SC include Check, T/T 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 refused to release its major clients and suppliers.
RADEMARKS & PATENTS
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Registration No. |
11406906 |
3379728 |
10619727 |
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Registration Date |
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Trademark Design |
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Tengzhou Xinxu Chemical Co., Ltd.
===========================
Reg. No.: 370481228000508
Legal representative: Qiu Ronglin (仇荣林)
Incorporation date: Feb. 9, 1999
Tengzhou Hongtai Chemical Co., Ltd.
===========================
Reg. No.: 370481228018645
Legal representative: Qiu Xingdong (仇兴东)
Incorporation date: June 3, 2005
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 banking details.
SC declined to release its financial information.
SC is considered medium-sized in its line with 8 years development
history.
Due to lack of financial statements, we are unable to determine the maximum
credit limit for SC.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.64.82 |
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1 |
Rs.100.12 |
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Euro |
1 |
Rs.73.75 |
INFORMATION DETAILS
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Analysis Done by
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KAS |
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Report Prepared
by : |
TPT |
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.