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MIRA INFORM REPORT
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Report No. : |
483765 |
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Report Date : |
03.01.2018 |
IDENTIFICATION DETAILS
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Name : |
ZHANMED LIMITED |
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Registered Office : |
House 12-1, Haikuotiankong Community, Yubei District, Chongqing City, 401122
Pr |
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Country : |
China |
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Date of Incorporation : |
Not Available |
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Legal Form : |
Not Available |
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Line of Business : |
Subject is mainly engaged in selling medical products and dental
products. |
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No. of Employees : |
Approx. 5 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
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MIRA’s Rating : |
C |
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Credit Rating |
Explanation |
Rating Comments |
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C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
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Status : |
Not Registered in China |
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Payment Behaviour : |
Unknown |
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Litigation : |
-- |
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 allowed resumption of a gradual liberalization. In 2015, the People’s
Bank of China announced it would continue to carefully push for full
convertibility of the renminbi (RMB) after the currency was accepted as part of
the IMF’s special drawing rights basket. After engaging in one-way, large-scale
intervention to resist appreciation of the RMB for a decade, China’s 2016
intervention in foreign exchange markets has sought to prevent a rapid RMB
depreciation that would have negative consequences for the United States,
China, and the global economy.
China’s economic growth has slowed since 2011. The Chinese Government
faces numerous economic challenges including: (a) reducing its high domestic
savings rate and correspondingly low domestic household consumption; (b)
servicing its high corporate debt burdens to maintain financial stability; (c)
facilitating higher-wage job opportunities for the aspiring middle class,
including rural migrants and college graduates, while maintaining
competitiveness; (d) dampening speculative investment in the real estate sector;
(e) reducing industrial overcapacity; and (f) raising productivity growth rates
through the more efficient allocation of capital. 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 only marginal progress toward these rebalancing goals.
Under President XI Jinping, Beijing has signaled its understanding that China's
long-term economic health depends on giving the market a more decisive role in
allocating resources, but has moved slowly on market-oriented reforms because
of potential negative consequences for stability and short-term economic
growth. He has also increased state-control over key sectors and Party control
over state-owned enterprises. 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.
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Source
: CIA |
Company
name & address
ZHANMED LIMITED
HOUSE 12-1, HAIKUOTIANKONG COMMUNITY, YUBEI DISTRICT,
CHONGQING CITY, 401122 PR CHINA
TEL: 86
(0) 23-67309662/86-15215105391
FAX: N/A
Narrative
report
This refers to a type of report whose format is different from that of a
standard report. Such type of report is provided when:
Information obtained is insufficient for compiling a standard report.
The enquired co has been out of business or its business address has
been untraceable.
It should be noted that the time and manpower spent on preparing such
type of report might be greater than those on a standard report. On many
occasions, the information in this type of report still indicates the current
status of the enquired co. and serves as a useful reference to assess its
credit standing.
From internet, we found SC’s E-mail zhanpsk@zhanmed.com
We sent E-mail to the above E-mail address, one gentleman Mr. Zhan
replied, and told us his mobile phone no. 15215105391.
Mr. Zhan confirmed the given company name, and released the heading
Chinese name.
He introduced that SC is a Hong Kong registered company, it is mainly
engaged in selling medical products and dental products. Most of the products
exported to India, Bangladesh, Pakistan, Indonesia, Malaysia, Singapore, etc.
SC is known to have approx. 5 employees at present.
The address client given is:
HOUSE 12-1, HAIKUOTIANKONG COMMUNITY, YUBEI DISTRICT, CHONGQING CITY
According to Mr. Zhan, SC is now operating at the above address.
In Hong Kong
Companies Registry, we found the following information:
CR No.: 2348656
Company Name: ZHANMED LIMITED
Company Type: Private company limited by shares
Date of Incorporation: 14-MAR.-2016
Active Status: Live
Investigations were made with Chongqing Municipal Administration for
Industry and Commerce (the authority that issuing and renewing business
license), and no record of SC was found.
From internet, we found SC’s website, http://www.zhanmed.com/
According to the above website, SC’s products mainly
include Bone Marrow Concentrator, Orthopedic External Fixation system,
Disposable wound pulse irrigation system, Orthopedic Drill, etc.
SC is registered in 2016 in Hong Kong and operating in Chongqing,
mainland China.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.67 |
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1 |
INR 85.90 |
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Euro |
1 |
INR 76.41 |
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CNY |
1 |
INR 9.77 |
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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VIV |
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Report Prepared
by : |
TPT |
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
·
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.