MIRA INFORM REPORT
|
Report No. : |
339406 |
|
Report Date : |
09.09.2015 |
IDENTIFICATION DETAILS
|
Name : |
CHINA SHANDONG GROUP LIMITED |
|
|
|
|
Formerly Known As : |
CHINA SHANDONG COMPANY LIMITED |
|
|
|
|
Registered Office : |
42/F,
Office Tower, Convention Plaza, 1 Harbour Road, Wanchai |
|
|
|
|
Country : |
Hong Kong |
|
|
|
|
Date of Incorporation : |
04.10.1985 |
|
|
|
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Com. Reg. No.: |
159642 |
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|
|
|
Legal Form : |
Private Limited Liability Company |
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|
|
|
Line of Business : |
Trading of cotton and oil |
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|
|
|
No. of Employees : |
Not Available |
RATING & COMMENTS
|
MIRA’s Rating : |
B |
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
26-40 |
B |
Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
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
|
Country Name |
Previous Rating (31.12.2014) |
Current Rating (31.03.2015) |
|
Hong Kong |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low |
A2 |
|
Moderate |
B1 |
|
High |
B2 |
|
Very High |
C1 |
|
Restricted |
C2 |
|
Off-credit |
D |
HONG KONG - ECONOMIC OVERVIEW
Hong Kong has a free market economy, highly dependent on international trade and finance - the value of goods and services trade, including the sizable share of re-exports, is about four times GDP. Hong Kong has no tariffs on imported goods, and it levies excise duties on only four commodities, whether imported or produced locally: hard alcohol, tobacco, hydrocarbon oil, and methyl alcohol. There are no quotas or dumping laws. Hong Kong's open economy left it exposed to the global economic slowdown that began in 2008. Although increasing integration with China, through trade, tourism, and financial links, helped it to make an initial recovery more quickly than many observers anticipated, its continued reliance on foreign trade and investment leaves it vulnerable to renewed global financial market volatility or a slowdown in the global economy. The Hong Kong government is promoting the Special Administrative Region (SAR) as the site for Chinese renminbi (RMB) internationalization. Hong Kong residents are allowed to establish RMB-denominated savings accounts; RMB-denominated corporate and Chinese government bonds have been issued in Hong Kong; and RMB trade settlement is allowed. The territory far exceeded the RMB conversion quota set by Beijing for trade settlements in 2010 due to the growth of earnings from exports to the mainland. RMB deposits grew to roughly 12.5% of total system deposits in Hong Kong by the end of 2014. The government is pursuing efforts to introduce additional use of RMB in Hong Kong financial markets and is seeking to expand the RMB quota. The mainland has long been Hong Kong's largest trading partner, accounting for about half of Hong Kong's total trade by value. Hong Kong's natural resources are limited, and food and raw materials must be imported. As a result of China's easing of travel restrictions, the number of mainland tourists to the territory has surged from 4.5 million in 2001 to 47.3 million in 2014, outnumbering visitors from all other countries combined. Hong Kong has also established itself as the premier stock market for Chinese firms seeking to list abroad. In 2014 mainland Chinese companies constituted about 50% of the firms listed on the Hong Kong Stock Exchange and accounted for about 60.1% of the Exchange's market capitalization. During the past decade, as Hong Kong's manufacturing industry moved to the mainland, its service industry has grown rapidly. Credit expansion and tight housing supply conditions have caused Hong Kong property prices to rise rapidly; consumer prices increased by more than 4.4% in 2014. Lower and middle income segments of the population are increasingly unable to afford adequate housing. Hong Kong continues to link its currency closely to the US dollar, maintaining an arrangement established in 1983. In 2014, Hong Kong and China signed a new agreement on achieving basic liberalization of trade in services in Guangdong Province under the Closer Economic Partnership Agreement, adopted in 2003 to forge closer ties between Hong Kong and the mainland. The new measures, effective from March 2015, cover a negative list and a most-favored treatment provision, and will improve access to the mainland's service sector for Hong Kong-based companies.
|
Source
: CIA |
Company
name and address
|
Company
Name (in English): |
China
Shandong Group Limited |
|
Supplied
Name: |
China
Shandong Group Ltd., |
|
Trading
Address: |
42/F,
Office Tower, Convention Plaza, 1 Harbour Road, Wanchai, Hong Kong |
|
Supplied
Address: |
42/F,
Office Tower, Convention Plaza, 1 Harbour Road, Wanchai, Hongkong. |
Note:
The exact name and address are as above.
Company
Identification Details
|
Registered Name: |
|
|
Registered Address: |
42/F, Office Tower, Convention Plaza, 1
Harbour Road, Wanchai, Hong Kong |
|
Telephone Number: |
+852-2824-1268 |
|
Fax Number: |
+852-2824-3551 |
|
Date of Registration: |
1985-10-4 |
|
Registered Number: |
159642 |
|
Business Registration No.: |
09920972 |
|
Paid-up Capital: |
HKD 158,000,000 (USD 20,382,000) = 158,000 Shares
@ HKD 1,000 (As of 2015.09, 1 HKD = 0.129 USD) |
|
Legal Form: |
Private Limited Liability Company |
|
SITC Code: |
26340--Cotton, carded or combed (Kg) |
|
Principal Activities: |
Trading of cotton and oil |
|
Staff: |
N/A |
|
Listed at Stock Exchange: |
No |
|
Date of Last Annual Return: |
2014-10-4 |
Notes: Subject declined to
disclose the number of staff, and from other source we cannot obtain the
information.
History
Subject was incorporated on 1985-10-4 with the
registered number 159642 as Private Limited Liability Company in Hong Kong.
Change
of Name:
|
Date |
Change |
|
1995-8-10 |
China Shandong Group Limited |
|
1985-10-4 |
China Shandong Company Limited |
Change
of Capital:
Particulars of the increase are as follows:
|
Date of Resolution |
Registered Capital |
Amount of Additional Capital |
New Amount of Total Registered Capital |
|
2014-12-29 |
80,000,000 |
78,000,000 |
158,000,000 |
The additional Capital is divided as follows:
|
Class of Shares |
Number of Shares |
Nominal Value per Share |
|
Ordinary |
78,000 |
1,000 |
Corporate
Structure
Related
Companies
|
1 |
|
|
Name: |
Shandong Hualu Hengsheng Group Co., Ltd |
|
Address: |
No. 24, Tianhengxi Rd., Dezhou City, Shandong
Province, China |
|
Tel: |
+86-534-246-5013 |
|
Fax: |
+86-534-246-5017 |
|
2 |
|
|
Name: |
Shandong Xinhua Medicine Group Co., Ltd |
|
Address: |
No. 14, East 1st Rd., Zhangdian Dist., Zibo
City, Shandong Province, China |
|
Tel: |
+86-533-216-6666 |
|
Fax: |
+86-533-218-4991 |
|
3 |
|
|
Name: |
Shandong Lukang Medicine Group Co., Ltd |
|
Address: |
No. 173, Taibailou West Rd., Jining City, Shandong
Province, China |
|
Tel: |
+86-537-221-3961 |
|
Fax: |
+86-537-288-0806 |
|
4 |
|
|
Name: |
Shandong Dongming Petrochemical Co., Ltd |
|
Address: |
No. 27, Huanghe Rd., Dongming County, Shandong
Province, China |
|
Tel: |
+86-530-728-1888 |
|
Fax: |
+86-530-728-1777 |
Shareholders
|
Subscription Shares |
Proportion of Investment (%) |
|
|
Hualu Holdings Co., Ltd. |
157,200 |
99.49% |
|
Shandong Hualu International Business Center Co.,
Ltd. (Literal Translation) |
800 |
0.51% |
|
Total |
158,000 |
100% |
Major
Shareholder Information:
|
1 |
|
|
Name: |
Hualu Holdings Co., Ltd. |
|
Address: |
I Bang Peng Rd., Jinan, Shandong, China |
|
2 |
|
|
Name: |
Shandong Hualu International Business Center Co.,
Ltd. (Literal Translation) |
|
Address: |
I Bang Peng Rd., Jinan, Shandong, China |
Management
Information
Core Management
Detailed
Information of Directors:
|
1 |
|
|
Name: |
Zhao Jiequan |
|
Address: |
Flat A, 25F, Wing Po Mansion, 33 Fort St., North
Point, Hong Kong |
|
Position: |
Director & Secretary |
|
ID Number: |
P553443(0) |
|
2 |
|
|
Name: |
Bai Xianzhong |
|
Address: |
Flat A, 24F, Wing Po Mansion, 33 Fort St., North
Point, Hong Kong |
|
Position: |
Director |
|
ID Number: |
R480178(3) |
|
3 |
|
|
Name: |
Cheng Xuezhan |
|
Address: |
Flat D, 23F, Wing Po Mansion, 33 Fort St., North Point,
Hong Kong |
|
Position: |
Director |
|
ID Number: |
P723947(9) |
|
4 |
|
|
Name: |
Ni Shoumin |
|
Address: |
Flat D, 23F, Wing Po Mansion, 33 Fort St., North
Point, Hong Kong |
|
Position: |
Director |
|
ID Number: |
P763438(6) |
|
5 |
|
|
Name: |
Cheng Guanghui |
|
Address: |
Flat D, 24F, Wing Po Mansion, 33 Fort St., North
Point, Hong Kong |
|
Position: |
Director |
|
ID Number: |
P987756(1) |
Operation
Information
Offices &
Factories
|
|
Office |
|
Address: |
42/F, Office Tower, Convention Plaza, 1 Harbour
Road, Wanchai, Hong Kong |
Premises Information
Office
address:
|
Address: |
42/F, Office Tower, Convention Plaza, 1 Harbour
Road, Wanchai, Hong Kong |
|
Owners: |
China Shandong Group Limited |
|
Memorial Number: |
UB8139279 |
|
Date of Instrument: |
1995-8-10 |
|
Date of Registration: |
2000-7-22 |
|
Consideration Value: |
-- |
History of Premises
Owners’
|
1 |
|
|
Memorial No.: |
10072200770045 |
|
Date of Instrument: |
2010-6-30 |
|
Date of Registration: |
2010-7-22 |
|
Nature: |
Tenancy Agreement With Plan |
|
In Favor of: |
China Int'l Pharmacy Group Limited |
|
Consideration: |
The Rent Is HKD 27,000.00 Per Month |
|
2 |
|
|
Memorial No.: |
10033101850016 |
|
Date of Instrument: |
2010-3-24 |
|
Date of Registration: |
2010-2-31 |
|
Nature: |
Tenancy Agreement With Plan Re Office
No.4209 |
|
In Favor of: |
China Financial Leasing Group Limited |
|
Consideration: |
The Rent Is HKD 105,740.00 Per Month |
|
3 |
|
|
Memorial No.: |
08032800480103 |
|
Date of Instrument: |
2008-3-6 |
|
Date of Registration: |
2008-3-28 |
|
Nature: |
Assignment Of Rentals |
|
In Favor of: |
Bank Of China (Hong Kong) Limited (The
Successor Corporation To Bank Of China) |
|
Consideration: |
-- |
Production Information
·
Subject is engaged in trading of cotton and oil
without any production activities.
Purchase Information
·
It is introduced that subject’s products are both
purchased at home and abroad.
Sales Information
·
Subject is engaged in sale of cotton and oil
·
The major products are cotton, oil and minerals
·
The sale regions of the subject include the Mainland
of China, Taiwan, Japan, Korea, India, Other Asian Countries
·
Subject’s major customers are companies of spinning
industry, smelting industry
Trademark
|
Trade Mark No.: |
199603309 |
|
Status: |
Registered |
|
Mark: |
|
|
Mark Type: |
Ordinary |
|
Owner's Name, Address: |
CHINA SHANDONG GROUP LIMITED |
|
Owner's Address |
RAY CHONG & PAN, SOLICITORS |
|
Class No.: |
|
|
Specification: |
Class 35
provision of business information; import-export agency services; all
included in Class 35. |
|
Date of Registration: |
13-07-1994 |
|
Actual Date of Registration: |
12-04-1996 |
|
Expiry date: (D-M-Y) |
13-07-2025 |
|
Date of entry: |
12-04-1996 |
|
Matters: |
Registration |
Settlements
Purchase
1.
Domestic Purchase
|
Products |
Cotton and oil |
|
Payment Terms |
T/T, Cash |
2.
Import
|
Products |
Cotton and oil |
|
Payment Terms |
L/C, T/T |
Sales
1.
Domestic Markets
|
Product |
Cotton and oil |
|
Selling Terms |
T/T, Cash |
2.
Export
|
Product |
Cotton and oil |
|
Selling Terms |
L/C, T/T |
Financial
Information
The subject has no
obligation to supply its financial statement to the third party according to
the relevant policy in Hong Kong and the only
source from which we can obtain the information is the subject itself.
Subject’s relevant staff rejected
to disclose the financial information; from other sources we could not obtain
such information, either.
Bankers
Subject
declined to disclose its bank details; from other source we could not obtain
the relevant information, either.
Public
|
Date: |
2012-8-1 |
|
Court Name: |
District Court Distrant |
|
Court No.: |
2307 |
|
Claimant: |
China Shandong Group Ltd (Transliteration:) c/o 42/F, Office Tower, Convention Plaza, 1 Harbour
Road, Wanchai, HK c/o Chong & Partners (a firm) |
|
Defendant: |
Ng Tsz Chin c/o Flat C, 22/F, Ching Fai Terrace, No.4-8 Ching Wah
Street, North Point, HK |
|
Reason: |
Rent |
|
Amount(HKD): |
85,400.00 |
|
2 |
|
|
Date: |
2007-06-27 |
|
Court Name: |
District Court Distrant |
|
Court No.: |
2761 |
|
Claimant: |
China Shandong Group Ltd c/o 42/F, Office Tower, Convention Plaza, 1 Harbour
Road, Wanchai, HK |
|
Defendant: |
Yu Lai Tung c/o Flat C, 5/F, Wing Po Mansion, Nos.33 Fort Street,
HK |
|
Reason: |
Possession |
|
Amount(HKD): |
-- |
|
3 |
|
|
Date: |
2006-8-16 |
|
Court Name: |
District Court Distrant |
|
Court No.: |
4014 |
|
Claimant: |
China Shandong Group Ltd c/o 42/F, Office Tower, Convention Plaza, 1 Harbour
Road, Wanchai, HK |
|
Defendant: |
Tsang Chun Kit c/o Flat A, 9/F, Kings Court, Nos.48, 50 & 52 Fort
Street, HK |
|
Reason: |
Possession |
Mortgage Record
No mortgage record was found.
Lawsuits
Up to now, no present or latent
litigation of the subject has been found.
|
High Court Action: |
Clear |
|
High Court Baukufty Bankruptcy Proceedings: |
Clear |
|
High Court Commercial Action: |
Clear |
|
High Court Construction & Arbitration
Proceedings: |
Clear |
|
High Court Companies Winding-Up: |
Clear |
Special
Note
Interview Details
|
Department: |
Sales Department |
|
Email: |
Industry
Information
26340-- Cotton,
carded or combed (Kg)
Unit: HKD/000
|
|
2015.06 |
2015.01~2015.06 |
||
|
|
Quantity |
Value |
Quantity |
Value |
|
Imports |
||||
|
Indonesia |
19,602 |
360 |
78,546 |
1,451 |
|
Germany |
99 |
4 |
207 |
8 |
|
Taiwan |
-- |
-- |
268 |
10 |
|
USA |
145 |
40 |
177 |
50 |
|
The Mainland of China |
36 |
1 |
3,163 |
179 |
|
Exports |
||||
|
The Mainland of China |
19,747 |
509 |
78,690 |
1,806 |
External Trade Information:
External Merchandise Trade Aggregate Figures
Unit: HKD/ Million
|
|
Imports |
Domestic Exports |
Re-exports |
Total exports |
Year-on-year % change of
Total exports |
Merchandise trade balance |
|
2012 |
3,912,163 |
58,830 |
3,375,516 |
3,434,346 |
+2.9 |
-477,817 |
|
2013 |
4,060,717 |
54,364 |
3,505,322 |
3,559,686 |
+3.6 |
-501,031 |
|
2014 |
4,219,046 |
55,283 |
3,617,468 |
3,672,751 |
+3.2 |
-546,295 |
|
2014.05 |
348,323 |
5,299 |
300,673 |
305,973 |
+4.9 |
-42,350 |
|
2014.06 |
352,316 |
4,802 |
304,409 |
309,211 |
+11.4 |
-43,105 |
|
2014.07 |
368,293 |
5,120 |
321,040 |
326,160 |
+6.8 |
-42,132 |
|
2014.08 |
358,750 |
5,289 |
321,937 |
327,225 |
+6.4 |
-31,525 |
|
2014.09 |
382,355 |
4,153 |
327,833 |
331,986 |
+4.5 |
-50,369 |
|
2014.10 |
381,569 |
4,392 |
327,335 |
331,727 |
+2.7 |
-49,842 |
|
2014.11 |
378,946 |
4,701 |
322,082 |
326,783 |
+0.4 |
-52,163 |
|
2014.12 |
372,007 |
4,050 |
308,705 |
312,755 |
+0.6 |
-59,253 |
|
2015.01 |
348,886 |
4,468 |
307,403 |
311,871 |
+2.8 |
-37,015 |
|
2015.02 |
264,220 |
2,919 |
225,418 |
228,337 |
+7.2 |
-35,884 |
|
2015.03 |
342,319 |
4,013 |
292,100 |
296,113 |
-1.8 |
-46,206 |
|
2015.04 |
331,108 |
4,202 |
287,742 |
291,944 |
+2.2 |
-39,164 |
|
2015.05 |
331,940 |
4,258 |
287,571 |
291,830 |
-4.6 |
-40,110 |
|
2015.06 |
345,302 |
4,158 |
295,361 |
299,518 |
-3.1 |
-45,783 |
*Total exports figures have been rounded to the nearest final digit after
summing up the constituent trade figures.
Attachment
Address:
42/F, Office Tower, Convention Plaza, 1 Harbour Road, Wanchai, Hong Kong
Office
Tower, Convention Plaza, 1 Harbour Road, Wanchai, Hong Kong
42/F,
Office Tower, Convention Plaza, 1 Harbour Road, Wanchai, Hong Kong
42/F,
Office Tower, Convention Plaza, 1 Harbour Road, Wanchai, Hong Kong
42/F,
Office Tower, Convention Plaza, 1 Harbour Road, Wanchai, Hong Kong
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.66.61 |
|
UK Pound |
1 |
Rs.102.30 |
|
Euro |
1 |
Rs.74.61 |
INFORMATION DETAILS
|
Analysis Done by
: |
KIN |
|
|
|
|
Report Prepared
by : |
VNT |
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.