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MIRA INFORM REPORT
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Report No. : |
484231 |
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Report Date : |
04.01.2018 |
IDENTIFICATION DETAILS
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Name : |
NANJING XZTRADE CO., LTD. |
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Registered Office : |
Room 1209, Building 3, Jiaye International Town,
No. 158, Lushan Road, Jianye District, Nanjing, Jiangsu Province, 210000 Pr |
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Country : |
China |
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Date of Incorporation : |
30.04.2007 |
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Credibility
Code.: |
913201056606701499 |
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Legal Form : |
Limited Liabilities
Co. |
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Line of Business : |
Machinery and equipment,
chemical products, building materials; economic information consultation;
importing and exporting goods and technology. (with permit if needed) |
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No. of Employees : |
3 |
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 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 and address
NANJING XZTRADE CO., LTD.
ROOM 1209, BUILDING 3, JIAYE
INTERNATIONAL town,
NO. 158, LUSHAN ROAD, JIANYE DISTRICT,
NANJING,
JIANGSU PROVINCE, 210000 PR
CHINA (registered address)
TEL: 86 (0) 25-52102308 FAX: 86 (0) 25-86435177
EXECUTIVE SUMMARY
INCORPORATION
DATE : APR. 30,
2007
CREDIBILITY
CODE :
913201056606701499
REGISTERED
LEGAL FORM : LIMITED LIABILITIES CO.
STAFF STRENGTH : 3 (LOCAL AIC)
REGISTERED CAPITAL : CNY 5,000,000
BUSINESS LINE : 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: according to SC’s
website, SC is also known as Nanjing Xingzhou Trade Ltd.
According to SC’s staff,
SC doesn’t operating in the given address “03#1209 Jiaye International Business
District No 158 Lushan Road, Nanjing China”, but declined to release the
current operating address.
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. 30, 2007, and has been under the present legal form since July of 2015.
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 selling machinery and equipment, chemical products,
building materials; economic information consultation; importing and exporting
goods and technology. (with permit if needed)
SC is
mainly engaged in selling food additives.
Mr. Chen Zhiqiao is legal representative and executive director
of SC at present.
SC is
known to have approx. 3 employees at present (according to local AIC).
SC’s staff declined to release the operating address.
http://www.xzchen.com/
The design is professional and the content is well organized. At present it is
in English version.
E-mail: xsb@xzfood.com
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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2015-7-3 |
Shareholders and shareholding |
Chen Zhiqiao 100% |
Present ones |
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Legal form |
One-person Limited Liability Company |
Present one |
HS Code: 3201961860
Import/ Export License No: 3201660670149
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Li Ping 90
Chen Zhiqiao 10
l Legal representative
and executive director:
Mr. Chen Zhiqiao is currently responsible for the overall
management of SC.
Working Experience(s):
At present Working in SC as legal
representative and executive director.
Also working in Anhui Xingzhou
Medicine Food Co., Ltd., Anhui Langxi Dongxing Food Additives Co., Ltd., etc.
as legal representative.
l General
Manager:
Li Ping is currently responsible
for the daily management of SC.
Working Experience(s):
At present Working in SC
as general manager.
Also working in Anhui
Xingzhou Medicine Food Co., Ltd., Anhui Langxi Dongxing Food Additives Co.,
Ltd. as supervisor.
l Supervisor:
Li Yaoqiang
SC is
mainly engaged in selling food additives.
SC’s products mainly include:
SWEETENERS
Acesulfame K
Sodium Cyclamate
Antioxidants
Ascorbic Acid
Erythorbic Acid
PRESERVATIVES
Glucono-Delta-Lactone
Sorbic Acid
Benzoic Acid
Acidulants
Citric Acid Anhydrous
Fumaric Acid
L-Malic Acid
Etc.
According to SC’s staff, SC
sources its materials 100% from domestic market. SC sells its products in
domestic market and to overseas market.
The buying terms of SC include Check, T/T and Credit of
30-60 days. The payment terms of SC include Check, T/T, L/C and Credit of 30-60
days.
Trademark
& Patents
No record
Note:
SC refused to release its major suppliers and customers.
Industry
code: 5100
Industry name: Wholesale industry
The gross domestic product of
China in 2016 which is 74412.72 billion that is increased 6.7% than previous
year.
According to National Bureau of
Statistics data released, at the end of 2015, there are 91,819 wholesale
enterprises in China. In 2015, total assets of wholesale industry was 18119.854
billion Yuan, and increased by 2.81% compared with 2014; total liabilities was
13201.39 billion Yuan, and increased by 1.42% compared with 2014; main business
income was 35848.13 billion Yuan, and declined by 7.45% compared with 2014;
main business profit was 2237.612 billion Yuan, and declined by 1.49% compared
with 2014.
Anhui Xingzhou Medicine Food Co., Ltd.
==============================
Credibility code: 9134182175486039X5
Legal rep.: Chen Zhiqiao
Incorporation date: 2003-09-27
Anhui Langxi Dongxing Food Additives Co., Ltd.
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Credibility code: 91341821711709163B
Legal rep.: Chen Zhiqiao
Incorporation date: 2003-03-25
Etc.
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 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.
China Minsheng Bank Nanjing Jiangning Sub-branch
AC#：0812014170003121
Relationship: Normal.
SC’s management declined to release any financial
information.
SC is considered small-sized in its line with a development
history of 11 years. Taking into consideration of SC’s market conditions we
would rate SC as an above average credit risk company. And credit dealings with
SC should be confined into small amount at present.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.48 |
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1 |
INR 86.41 |
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Euro |
1 |
INR 76.54 |
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CNY |
1 |
INR 9.76 |
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.