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MIRA INFORM REPORT
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Report No. : |
484790 |
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Report Date : |
09.01.2018 |
IDENTIFICATION DETAILS
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Name : |
GUANGDONG PINLONG
PRECISION TECHNOLOGY Co., Ltd. |
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Registered Office : |
Fusheng Road, Fuwan Industrial Park, Hecheng Street, Gaoming District,
Foshan City, Guangdong Province, 528599 Pr |
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Country : |
China |
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Date of Incorporation : |
21.03.2017 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Subject registered business scope includes R&D, manufacturing and
selling automation equipment (with permit if needed). |
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No. of Employees : |
100 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd January
2017)
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MIRA’s Rating : |
NB |
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Credit Rating |
Explanation |
Rating Comments |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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Status : |
New Business |
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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 & address
GUANGDONG PINLONG PRECISION TECHNOLOGY Co.,
Ltd.
FUSHENG ROAD, FUWAN INDUSTRIAL PARK, HECHENG STREET, GAOMING DISTRICT,
FOSHAN CITY, GUANGDONG PROVINCE, 528599 PR CHINA
TEL: 86 (0) 757-23608789/86 (0)
13517153007 FAX: 86 (0) 757-26325025
EXECUTIVE
SUMMARY
INCORPORATION DATE :
MAR. 21, 2017
CREDIBILITY CODE :
91440608MA4WBDMH8A
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
CHIEF EXECUTIVE :
MR. CHEN LONGSHENG (legal representative)
STAFF STRENGTH :
100
REGISTERED CAPITAL : CNY 10,000,000
BUSINESS LINE :
R&d, MANUFACTURING & TRADING
TURNOVER :
N/A
EQUITIES :
N/A
PAYMENT :
unknown
MARKET CONDITION : average
FINANCIAL CONDITION : N/A
OPERATIONAL TREND : FAIRLY 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 Guangdong Pinlong
Packaging Machinery Co., Ltd.
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 Mar. 21, 2017.
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 R&D, manufacturing and
selling automation equipment (with permit if needed).
SC is mainly engaged in R&D, manufacturing and selling automation
equipment.
Mr. Chen Longsheng (has been legal representative, executive director
and general manager of SC since 2017.
SC is known to have approx. 100 employees at present.
SC is currently operating at the above stated address, and this address
houses its operating office and factory in the industrial zone of Foshan. The
detailed information of the premise is unspecified.
Note: according to its employee Mr. Fu, SC has another operating
address:
No. 69, Gaofu Rd. 1, Jiangwan community, Hecheng Street, Gaoming Area,
Foshan City.
http://www.pinlongjx.com/
The design is professional and the content is well organized. At present it is in
both Chinese and English versions.
Email: danielfu@pinlongjx.com
SC’s former registered no. was 440684000072221.
There is no record of litigation till now.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Chen Longsheng 80
Chen Longke 20
Legal
representative, Executive director and General manager:
Mr. Chen Longsheng is currently responsible for the overall management
of SC.
Working Experience(s):
From 2017 to present Working
in SC as legal representative, executive director and general manager
Also working in Foshan Shunde Pinlong Precision Machinery Co., Ltd. as
legal representative
Supervisor:
Chen Longke
SC is mainly engaged in R&D, manufacturing and selling automation
equipment.
SC’s products mainly include: carton machinery, PL-GP Whole Vacuum
Transfer High Graphic Printer, PL-Y5 Computrized High Speed Printer, PL-Y4 Lead
Edge Feeder Middle Speed, PL-Y3 Lead edge Feeder Economy Speed, etc.
Trademarks &
patents
No record
SC sources its materials from both domestic
market and overseas market. SC sells its products in both domestic market and
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’s management declined to release its customer and supplier
details.
Industry code:
3540
Industry name:
Printing, pharmaceutical, cosmetic and daily necessities for the special
equipment manufacturing
The gross domestic product of China in 2016 which is 74412.72 billion
that is increased 6.7% than previous year.
In 2015, the main business income of China's special equipment
manufacturing industry is 3559.98 billion yuan, increased by 2.9% year on year.
From the above chart we can see from 2012 to 2015, the main business income of
national special equipment manufacturing industry has maintained a rising
trend, but the main business revenue growth rate of special equipment
manufacturing industry has been in a turbulent
downturn, but still maintain positive growth.
In 2015, the total profit of special equipment manufacturing industry
was 209.69 billion yuan, down by 3.4% year on year.
From the above chart we can see from 2011 to 2013, the total profit growth rate
has maintained positive growth. From 2013 to 2015, the profit growth rate has
been declining, the profit growth into negative growth in 2015.
Foshan Shunde Pinlong Precision Machinery Co., Ltd.
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Credibility Code: 914406065921273116
Legal representative: Chen Longsheng
Date of incorporation: 2012-03-06
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.
SC’s management declined to release its bank details.
SC was established in 2017, and its annual financial reports are not
available at present.
SC was established in 2017, and its credit has not been established yet.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.35 |
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1 |
INR 85.89 |
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Euro |
1 |
INR 76.15 |
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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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NIS |
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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
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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
·
Industry
scenario / competitor analysis
·
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.