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MIRA INFORM REPORT
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Report No. : |
488712 |
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Report Date : |
31.01.2018 |
IDENTIFICATION DETAILS
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Name : |
TIANJIN PIPE INTERNATIONAL ECONOMIC & TRADING CORPORATION |
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Registered Office : |
No. 396,
Jintang Road, Dongli District, Tianjin 300301 Pr |
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Country : |
China |
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Date of Incorporation : |
15.01.1999 |
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Credibility
Code .: |
91120000712839816E |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
Importing and exporting
commodities and technologies, labor service consulting (excluding
intermediaries), excluding commodities and technologies prohibited by the
state; processing with imported materials, processing with imported samples,
assembling with imported parts, and compensation trade in agreement; counter
trade & transit trade; selling imported goods in domestic market; selling
mechanical equipment, metal materials, petroleum products, chemical products
(excluding hazardous chemicals and precursor chemicals); metal materials and
products, light industrial products, clothing, department stores, hardware,
building materials, office equipment, autos (excluding cars); technical
service and maintenance service of mechanical equipment, electrical equipment
and accessories; selling feed; leasing own house (in accordance with the
permit). (with permit if needed) |
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No. of Employees : |
150 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January
2017)
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MIRA’s Rating : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but Correct |
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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
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Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
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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 Risk |
A2 |
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Moderately Low Risk |
B1 |
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Moderate Risk |
B2 |
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Moderately High Risk |
C1 |
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High Risk |
C2 |
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Very High Risk |
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. China has implemented reforms in a gradualist fashion, resulting in efficiency gains that have contributed to a more than tenfold increase in GDP since 1978. Reforms began with the phaseout 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 continues to pursue an industrial policy, state support of key sectors, and a restrictive investment regime. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, China in 2016 stood as the largest economy in the world, surpassing the US in 2014 for the first time in modern history. China became the world's largest exporter in 2010, and the largest trading nation in 2013. Still, China's per capita income is below the world average.
After keeping its currency tightly linked to the US dollar for years, China in July 2005 moved to an exchange rate system that references a basket of currencies. From mid-2005 to late 2008, the renminbi appreciated more than 20% against the US dollar, but the exchange rate remained virtually pegged to the dollar from the onset of the global financial crisis until June 2010, when Beijing announced it would allow a resumption of gradual liberalization. From 2013 until early2015, the renminbi (RMB) appreciated roughly 2% against the dollar, but the exchange rate fell 13% from mid-2015 until end-2016 amid strong capital outflows in part stemming from the August 2015 official devaluation; in 2017 the RMB resumed appreciating against the dollar – roughly 7% from end-of-2016 to end-of-2017. From 2013 to 2017, China had one of the fastest growing economies in the world, averaging slightly more than 7% real growth per year. In 2015, the People’s Bank of China announced it would continue to carefully push for full convertibility of the renminbi, after the currency was accepted as part of the IMF’s special drawing rights basket. However, since late 2015 the Chinese Government has strengthened capital controls and oversight of overseas investments to better manage the exchange rate and maintain financial stability.
The Chinese Government faces numerous economic challenges including: (a) reducing its high domestic savings rate and correspondingly low domestic household consumption; (b) managing its high corporate debt burden to maintain financial stability; (c) controlling off-balance sheet local government debt used to finance infrastructure stimulus; (d) facilitating higher-wage job opportunities for the aspiring middle class, including rural migrants and college graduates, while maintaining competitiveness; (e) dampening speculative investment in the real estate sector without sharply slowing the economy; (f) reducing industrial overcapacity; and (g) raising productivity growth rates through the more efficient allocation of capital and state-support for innovation. Economic development has progressed further in coastal provinces than in the interior, and by 2016 more than 169.3 million migrant workers and their dependents had relocated to urban areas to find work. One consequence of China’s population control policy known as the “one-child policy” - which was relaxed in 2016 to permit all families to have two children - 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 urbanization. The Chinese Government is seeking to add energy production capacity from sources other than coal and oil, focusing on natural gas, nuclear, and clean energy development. In 2016, China ratified the Paris Agreement, a multilateral agreement to combat climate change, and committed to peak its carbon dioxide emissions between 2025 and 2030.
The government's 13th Five-Year Plan, unveiled in March 2016, emphasizes the need to increase innovation and boost domestic consumption to make the economy less dependent on government investment, exports, and heavy industry. However, China has made more progress on subsidizing innovation than rebalancing the economy. Beijing has committed to giving the market a more decisive role in allocating resources, but the Chinese Government’s policies continue to favor state-owned enterprises and emphasize stability. Chinese leaders in 2010 pledged to double China’s GDP by 2020, and the 13th Five Year Plan includes annual economic growth targets of at least 6.5% through 2020 to achieve that goal. 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. Chinese leaders also have undermined some market-oriented reforms by reaffirming the “dominant” role of the state in the economy, a stance that threatens to discourage private initiative and make the economy less efficient over time. The slight acceleration in economic growth in 2017—the first such uptick since 2010—gives Beijing more latitude to pursue its economic reforms, focusing on financial sector deleveraging and its Supply-Side Structural Reform agenda, first announced in late 2015.
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Source
: CIA |
Company
Name And Address
TIANJIN PIPE INTERNATIONAL ECONOMIC & TRADING
COrporation
NO. 396, JINTANG ROAD, DONGLI
DISTRICT, TIANJIN 300301 PR CHINA
TEL: 86
(0) 22-66280988 FAX: 86 (0) 22-66282951
EXECUTIVE
SUMMARY
INCORPORATION
DATE : jan. 15,
1999
credibility
code :
91120000712839816E
REGISTERED
LEGAL FORM : One-person Limited Liability Company
STAFF
STRENGTH : 150
REGISTERED
CAPITAL : cny 600,000,000
BUSINESS
LINE :
trading
TURNOVER :
n/a
EQUITIES : n/a
PAYMENT
: SLOW BUT CORRECT
MARKET
CONDITION :
COMPETITIVE
FINANCIAL
CONDITION : n/a
OPERATIONAL
TREND : steady
GENERAL
REPUTATION :
WELL-KNOWN
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).
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 scopes include deep processing of pipe; importing and
exporting commodities and technologies, labor service consulting (excluding intermediaries),
excluding commodities and technologies prohibited by the state; processing with
imported materials, processing with imported samples, assembling with imported
parts, and compensation trade in agreement; counter trade & transit trade;
selling imported goods in domestic market; selling mechanical equipment, metal
materials, petroleum products, chemical products (excluding hazardous chemicals
and precursor chemicals); metal materials and products, light industrial
products, clothing, department stores, hardware, building materials, office
equipment, autos (excluding cars); technical service and maintenance service of
mechanical equipment, electrical equipment and accessories; selling feed;
leasing own house (in accordance with the permit). (with permit if needed)
SC is
mainly engaged in selling various steel pipes.
Liu Jinhai is the legal
representative and chairman of SC at present.
SC is known to have approx. 150 employees at present.
SC is currently
operating at the above stated address, and this address houses its operating
office in Tianjin. The detailed premise information is unspecified.
http://www.tpcointernational.com
The design is professional and the content is well organized. At present it is
only in English version.
E-mail: tpcointl@tpcointl.cn
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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2004 |
Name |
Tianjin Pipe Imp. & Exp. Co., Ltd. |
Present one |
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2009 |
Registration No. |
1200001190098 |
120000000002961 |
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Unknown |
Legal rep. |
Zhang Wenfeng |
Wen Desong |
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Registration No./Credibility code |
120000000002961 |
91120000712839816E |
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Legal rep. |
Wen
Desong |
Liu Jinhai |
Honors:
SC has obtained the API
certificate, ISO9001 quality management system certificate, ISO14001 environmental
management certificate and OHSMS-18001 occupational health & safety
management system certificate
HS Code: 12109A0051/1210910613
Import/ Export License No: 1200712839816
For the past two years there is no record of litigation.
MAIN
SHAREHOLDERS:
Name
% of Shareholding
Tianjin
Pipe (Group) Corp.
100
Credibility
code: 91120000104313327L
Legal
representative: Li Qiang
Establishment
date:
Address:
No. 396, Jintang Road, Dongli District, Tianjin
Tel:
022- 24802625
Fax:
022- 24360649
Email:
hanxl@tpco.cn
l Legal
representative and chairman:
Liu Jinhai is currently responsible for the overall
management of SC.
Working Experience(s):
At present Working in SC
as legal representative and chairman.
l Directors:
Chen Peiyu
Li Yi
Huang Weiqiu
Zhang Tao
l Supervisor:
Sun Jinzhong
SC is mainly engaged in selling various pipes.
SC’s products mainly include:
Casing and Tubing
API Casing & Tubing
High Collapse Casing
Deep Well Casing
Heavy Oil Recovery Casing
Corrosion Resistance Casing
Drill Pipe Stock
Perforating Gun Tube
Premium Connection
Line Pipe and Process Pipe
Offshore Structure Pipe
Power Generation
Mechanical Pipe
High Pressure Cylinder Pipe
Color Coil
SC sources its materials 20%
from domestic market, mainly Tianjin, and 80% from overseas market, mainly
Germany and Italy. SC sells its products 100% to overseas market, mainly
America.
The buying terms of SC include Check, T/T, L/C and Credit of
30-60 days. The payment terms of SC include Check, L/C and Credit of 30-60
days.
Note: SC refused to release its
major customers and suppliers.
Trademarks & Patents
No record
Note: SC’s management declined
to release its customer and supplier details.
Industry code: 5100
Industry name: Wholesale industry
The gross domestic product of
China in 2015 which is 676,708 billion that is increased 6.9% than previous
year.
From
2011 to 2015, total profit of Chinese metalwork industry has been a rising
trend, but growth rate has been declining, the growth rate has declined from
30.2% in 2011 to 4.7% in 2015. Total profit of Chinese metalwork industry was
210.22 billion Yuan in 2015, and increased by 4.7% year-on-year.
SC is known to invest
in the following companies:
Jiangsu
Tianhuai Pipe Co., Ltd.
TPCO Copper
Industry Co., Ltd.
Tianjin
J.D.Rush Tubular Slotting & Supply Co., Ltd.
TPCO Logistics
Development Co., Ltd. (Literal translation)
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 records 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.
Bank of China Tianjin Jin’gang
Sub-branch
AC# 04906208091001
Relationship: Normal.
SC’s management declined to
release any financial information.
SC is considered medium-sized in
its line with a development history of 19 years. Taking into consideration of
SC’s general performance, reputation as well as market conditions we would rate
SC as an average credit risk company. And credit up to moderate amount may be
considered.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.75 |
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1 |
INR 89.39 |
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Euro |
1 |
INR 78.54 |
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CNY |
1 |
INR 10.11 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
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DIV |
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Report Prepared
by : |
KET |
RATING EXPLANATIONS
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Credit Rating |
Explanation |
Rating Comments |
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A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
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A+ |
Low Risk |
Business dealings permissible with low
risk of default |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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D |
High Risk |
Business dealing not recommended or on
secured terms only |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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NT |
No Trace |
No recommendation can be done as the
business is not traceable |
NB is stated where there is insufficient information to facilitate rating. However, it is not to be considered as unfavourable.
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 are as follows:
·
Financial
condition covering various ratios
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Company
background and operations size
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Promoters
/ Management background
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Payment
record
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Litigation
against the subject
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Industry
scenario / competitor analysis
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Supplier
/ Customer / Banker review (wherever available)
This report is issued at
your request without any risk and responsibility on the part of MIRA INFORM
PRIVATE LIMITED (MIPL) or its officials.