MIRA INFORM REPORT
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Report No. : |
342167 |
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Report Date : |
25.09.2015 |
IDENTIFICATION DETAILS
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Name : |
LANXI LONGTERM INTERNATIONAL CO., LTD. |
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Registered Office : |
No. 197 Fangxiadian, Lingdong Town, Lanxi City, Zhejiang Province, 321100 Pr |
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Country : |
China |
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Date of Incorporation : |
24.04.2007 |
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Com. Reg. No.: |
330781000016724 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
Export and import of goods and technology (excluding the items limited
or prohibited by law) (operating with the related valid license) |
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No. of Employees : |
Not Available |
RATING & COMMENTS
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MIRA’s Rating : |
Ca |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
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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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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
LANXI LONGTERM INTERNATIONAL CO., LTD.
NO. 197 FANGXIADIAN, LINGDONG TOWN, LANXI CITY, ZHEJIANG PROVINCE,
321100 PR CHINA
TEL: N/A FAX: N/A
EXECUTIVE
SUMMARY
YEAR OF ESTABLISHMENT :
APR. 24, 2007
REGISTRATION NO. :
330781000016724
LEGAL FORM :
ONE-PERSON LIMITED LIABILITY COMPANY
CHIEF EXECUTIVE : YU
JINLIANG (LEGAL REPRESENTITIVE)
STAFF STRENGTH : N/A
PAID-UP CAPITAL :
CNY 300,000
REGISTERED BUSINESS LINE :
TRADING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
NOT YET DETERMINED
MARKET CONDITION :
NOT YET DETERMINED
FINANCIAL CONDITION :
N/A
OPERATIONAL TREND :
N/A
GENERAL REPUTATION :
NOT YET DETERMINED
EXCHANGE RATE :
CNY 6.3763= USD 1
Adopted
abbreviations:
ANS - amount not stated NS
- not stated SC - subject company (the
company inquired by you)
NA - not available M
- million INR- Indian Rupee
Note: According to the, we located SC. SC’s name should be “LONGTERM”
not the given one “LAONGTERM”.
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 Apr. 24, 2007.
One-person Limited
Liability Company 一人有限责任公司 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.
Registered Business Scope: export and import of
goods and technology (excluding the items limited or prohibited by law)
(operating with the related valid license)
Mr. Yu Jinliang is registered as legal representative, executive
director and general manager of SC.
No telephone listing could be found for the company. It is therefore not
possible to contact the company directly to obtain further information. The
nature and extent of the company's operations could not be determined and it
could not be confirmed whether the company operates from the Registered Office
address or in another location.
Changes
of its registered information are as follows:
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Date of change |
Item |
Before the change |
After the change |
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2008-10-13 |
Legal representative |
Xu Guoqing |
Present one |
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Shareholders |
Xu Guoqing 100% |
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Registered capital |
CNY 1,000,000 |
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Registered No. |
3307812005410 |
Organization Code: 661700143
www.lxltchem.com The design is professional and the content
is well organized. At present it is in English versions.
There is no record about litigation and
negative information.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Yu Jinliang 100
Legal representative,
Executive director and General manager:
Yu Jinliang
Supervisor:
He Weiwei
We have called the tel. no. 86 (0) 579-88877298/
86 (0) 13646795610, but they are always in busy line.
Exhausting our efforts, we are unable to find SC’s telephone number in
various information sources, including the internet, yellow pages and telecom
companies.
It is not possible to contact the company directly to obtain further
information. The nature and extent of the company's operations could not be
determined.
Overall payment
appraisal: ( ) Excellent (
) Good ( ) Average
( ) Fair (
) Poor (X) 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: N/A
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 is not known to have any subsidiary at
present.
We are unable to obtain the bank information.
Failing to contact SC, we are unable to obtain the financial information
at present.
Despite having exhausted all our effort, we are unable to contact SC, so
precise credit estimate can not be made at present. If further contact details of SC can be provided, we will definitely
continue this research.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
Rs.66.10 |
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1 |
Rs.100.89 |
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Euro |
1 |
Rs.73.96 |
INFORMATION DETAILS
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Analysis Done by
: |
TRI |
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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.