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MIRA INFORM REPORT
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Report No. : |
491395 |
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Report Date : |
09.02.2018 |
IDENTIFICATION DETAILS
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Name : |
SUZHOU BAO QIANG
Solar CO., LTD. |
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Registered Office : |
No. 31 Tangxi Road, Hi-Tech Zone, Suzhou City, Jiangsu Province,
215000 Pr |
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Country : |
China |
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Date of Incorporation : |
24.11.2006 |
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Credibility Code
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91320594795394129X |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Subject engaged in research and
development, production, sales, installation: solar products, solar cells,
modules, charging piles, electrical automation systems, energy-saving products,
high vacuum unit equipment, mechanical automation equipment, electronic
products, import and export of the above related products and technology;
distributed power plant design, installation; sales: multimedia control
systems, intelligent network systems engineering, new environmentally
friendly materials, water treatment materials, office equipment, plastic
products, household goods, wood products, mechanical and electrical hardware
and accessories and provide on-site installation and import and export for
related products. |
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No. of Employees : |
Not Available |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
B |
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Credit Rating |
Explanation |
Rating Comments |
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B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
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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
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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 & address
SUZHOU BAO QIANG Solar
CO., LTD.
NO. 31 TANGXI ROAD, HI-TECH ZONE, SUZHOU CITY,
JIANGSU PROVINCE, 215000 PR CHINA
TEL: 86 (0) 512-66310981/86-13913559711 FAX: n/a
EXECUTIVE
SUMMARY
INCORPORATION DATE : nov. 24, 2006
CREDIBILITY CODE :
91320594795394129X
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
chief executive :
geng chuanbao (legal representative)
STAFF STRENGTH :
n/a
REGISTERED CAPITAL : CNY 20,060,000
BUSINESS LINE :
r&d, MANUFACTURING & TRADING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
unknown
MARKET CONDITION : average
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : STEADY
GENERAL REPUTATION : average
Adopted
abbreviations:
ANS - amount not stated NS
- not stated SC - subject company (the
company inquired by you)
NA - not available CNY
- China Yuan Renminbi
Note: SC’s headquarters is located at the heading address, and the given
address also belongs to SC.
SC was registered as a limited liabilities co. at local Administration
for Industry & Commerce (AIC - The official body of issuing and renewing
business license) on Nov. 24, 2006.
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 research and development,
production, sales, installation: solar products, solar cells, modules, charging
piles, electrical automation systems, energy-saving products, high vacuum unit
equipment, mechanical automation equipment, electronic products, import and export
of the above related products and technology; distributed power plant design,
installation; sales: multimedia control systems, intelligent network systems
engineering, new environmentally friendly materials, water treatment materials,
office equipment, plastic products, household goods, wood products, mechanical
and electrical hardware and accessories and provide on-site installation and
import and export for related products.
SC is mainly engaged in research and development, production, sales of
solar products, solar cells, modules, etc.
Geng Chuanbao has been legal representative,
executive director and general manager of SC since 2014.
The number of employees is not available at present.
SC is currently operating at the above stated address, and this address
houses its operating office and factory in the Hi-Tech Zone of Suzhou. SC’s employee refused to release the detailed information
of the premise.
http://www.bqltd.com/
The design is professional and the content is well organized. At present it is
in Chinese version.
Email: geng@bqltd.com
Changes of its
registered information:
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Date of change |
Item |
Before the change |
After the change |
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2014-05-05 |
Company’s name |
Suzhou Baoqiang Electronic
Technology Development Co., Ltd. (literal translation) |
Suzhou Baoqiang Photovoltaic Technology Service Co., Ltd. (literal
translation) |
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Legal representative |
Geng Chuanqiang |
Present one |
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2016-06-03 |
Company’s name |
Suzhou Baoqiang
Photovoltaic Technology Service Co., Ltd. (literal
translation) |
Present one |
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Registered capital |
CNY 500,000 |
Present amount |
Import/
Export License Number: 3205795394129
HS Code:
3205263514
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Geng Chuanqiang 70
Geng Chuanbao 30
Legal
representative, executive director and general manager:
Geng Chuanbao is currently responsible for the overall management of SC.
Working Experience(s):
From 2014 to present Working in SC as
legal representative, executive director and general manager.
Supervisor:
Sun Yulian
SC is mainly engaged in research and development, production, sales of
solar products, solar cells, modules, etc.
SC’s products mainly include: solar products, solar cells, modules,
environmentally friendly materials, etc.
SC sources its materials from domestic and overseas market. SC sells its
products in domestic market, and 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 refused to release its main suppliers and clients.
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Registration No. |
17215624 |
17215251 |
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Registration
Date |
2016-08-28 |
2016-10-28 |
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Trademark Design |
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Industry code: 3825
Industry name: Photovoltaic equipment and components manufacturing
The gross domestic product of China in 2015 which is 676,708 billion
that is increased 6.9% than previous year.
PV industry continued to maintain rapid growth in 2015. As of Dec. 31,
2015, China's total cumulative installed capacity of photovoltaic power
generation was 43,180,000 kW. China became the world's largest installed
capacity of photovoltaic power generation. Among the total cumulative installed
capacity, photovoltaic power plant: 37,120,000 kW, distributed power plant:
6,060,000 kW, annual power generation: 39,200,000,000 kWh. The newly increased installed capacity of
power generation in China was 15,130,000 kW in 2015, a growth of 42.7% compared to Yr2014. It achieved the target:
the newly increased grid installed capacity up to 15,000,000 kW in 2015,
accounted for more than 1/4 of the world's newly increased installed capacity
Suzhou Zhong Li Xi Vacuum Mechanical Technology Co., Ltd.
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Credibility
code: 91320506585571262T
Legal representative: Zhang Lixia
Incorporation date: 2011-11-15
http://szzhonglixi.sh28.wanheweb.com/
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.
SC declined to release its banking details, so the given
bank information could not be confirmed.
SC’s management declined to release any financial information.
SC was established in 2006 with 11 years operation history. Taking into consideration
of all the factors above, we would rate SC as an above average credit risk
company. Credit confined into small 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 64.16 |
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1 |
INR 89.19 |
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Euro |
1 |
INR 78.75 |
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CNY |
1 |
INR 10.21 |
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.