|
|
|
|
Report No. : |
485683 |
|
Report Date : |
12.01.2018 |
IDENTIFICATION DETAILS
|
Name : |
SHENZHEN ONETOUCH BUSINESS SERVICE LTD. |
|
|
|
|
Registered Office : |
Room No. 301, Building S2, Ali Cloud
Building, No. 3239 Keyuan Road South (Shenzhen Bay), Yuehai Street, Nanshan
District, Shenzhen, Guangdong Province 518000 PR |
|
|
|
|
Country : |
China |
|
|
|
|
Financials (as on) : |
31.12.2015 |
|
|
|
|
Date of Incorporation : |
05.12.2001 |
|
|
|
|
Com. Reg. No.: |
91440300734141160H |
|
|
|
|
Legal Form : |
One-Person Limited Liabilities Company |
|
|
|
|
Line of Business : |
Registered business scope includes domestic commerce;
importing and exporting commodities and technology, economic information
consultation, online commodity services, international freight forwarding
business; and Customs broking. |
|
|
|
|
No. of Employees : |
633 |
RATING & COMMENTS
(Mira Inform has adopted New Rating mechanism w.e.f. 23rd
January 2017)
|
MIRA’s Rating : |
A |
|
Credit Rating |
Explanation |
Rating Comments |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
Status : |
Satisfactory |
|
|
|
|
Payment Behaviour : |
No Complaints |
|
|
|
|
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
|
Country Name |
Previous Rating (30.06.2017) |
Current Rating (30.09.2017) |
|
China |
A2 |
A2 |
|
Risk Category |
ECGC
Classification |
|
Insignificant |
A1 |
|
Low Risk |
A2 |
|
Moderately Low Risk |
B1 |
|
Moderate Risk |
B2 |
|
Moderately High Risk |
C1 |
|
High Risk |
C2 |
|
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.
|
Source
: CIA |
|
COMPANY NAME |
Shenzhen Onetouch Business Service Ltd. |
|
CURRENT ADDRESS/ REGISTERED
ADDRESS |
Room No. 301, Building S2, Ali Cloud
Building, No. 3239 Keyuan Road South (Shenzhen Bay), Yuehai Street, Nanshan
District, Shenzhen, Guangdong Province 518000 PR China |
|
TEL.
NO. |
86 (0)
755-22163680/25830329/25882590/25902032 |
|
FAX
NO. |
86 (0) 755-25830475 |
EXECUTIVE SUMMARY
Date of Registration : december 5, 2001
Unified Social Credit Code : 91440300734141160H
LEGAL FORM : one-person Limited liabilities company
REGISTERED CAPITAL : CNY 3,300,000,000
staff :
633
BUSINESS CATEGORY : TRADE & LOGISTICS
Revenue :
CNY 505,605,000 (AS OF DEC. 31, 2015)
EQUITIES :
CNY
310,900,000 (AS OF DEC. 31, 2015)
WEBSITE : www.ydt35.com
E-MAIL :
service@ydt35.com
PAYMENT :
NO COMPLAINTS
MARKET CONDITION : competitive
FINANCIAL CONDITION : fair
OPERATIONAL TREND : FAIRLY STEADY
GENERAL REPUTATION : AVERAGE
Adopted abbreviations (as follows)
SC - Subject Company
(the company inquired by you)
N/A – Not available
CNY – China Yuan Ren
Min Bi
This section aims at indicating the relative positions of SC in respect
of its operational trend & general reputation
Operational Trend:- General
Reputation:-
Upward Excellent
Steady Good
Fairly Steady Fairly
Good
Ordinary Average
Fair Fair
Stagnant Detrimental
Downward Not
known
Not known Not
yet be determined
Not yet be determined
SC was established as a limited liabilities company of PRC with State
Administration for Industry & Commerce (SAIC) under Unified Social Credit
Code: 91440300734141160H.
SC’s Import and Export Enterprise Code:
4403734141160
SC’s registered capital: CNY 3,300,000,000
SC’s paid-in capital: CNY 3,300,000,000
Registration Change Record:-
|
Date |
Change of Contents |
Before the change |
After the change |
|
2002-2-26 |
Legal Representative |
Wei Qiang |
Cui Wei |
|
2003-2-17 |
Registered Capital |
CNY 3,000,000 |
CNY 10,000,000 |
|
2003-8-1 |
Company Name |
Shenzhen Badatong Import & Export Trade
Co., Ltd. |
Shenzhen Badatong Import & Export Co.,
Ltd. |
|
Legal Representative |
Cui Wei |
Wei Qiang |
|
|
2004-2-9 |
Registered Capital |
CNY 10,000,000 |
CNY 11,000,000 |
|
2004-9-6 |
Company Name |
Shenzhen Badatong Import & Export Co.,
Ltd. |
Shenzhen 1-Touch Business Service Ltd. |
|
2008-4-8 |
Registration No. |
4403012078614 |
440301103275393 |
|
Registered Capital |
CNY 11,000,000 |
CNY 12,100,000 |
|
|
2009-6-10 |
Registered Capital |
CNY 12,100,000 |
CNY 13,500,000 |
|
2010-4-23 |
Shareholder (s) (% of Shareholding) |
Guo Atuo 0.4646% Lin Junhui 0.3703% Zhen Huawei 8.7408% Zhao Shuqiu 0.4646% Luo Meiying 0.4646% Chen Jirong 0.4646% Chen Hanchao 0.5590% Xiao Feng 10.3704% Du Lixia 4.0741% Liang Wanping 0.4646% Xu Wenfang 0.4646% Wu Zhijun 0.4646% Wei Qiang 71.7040% Zhang Hui 0.4646% Dai Jing 0.4646% |
Xiao Feng 10.3704% Zhen Huawei 8.7408% Wei Qiang 71.7040% Du Lixia 9.1848% |
|
2010-11-2 |
Shareholder (s) (% of Shareholding) |
Xiao Feng 10.3704% Zhen Huawei 8.7408% Wei Qiang 71.7040% Du Lixia 9.1848% |
Xiong Ronghui 4.0744% Xiao Feng 10.3704% Wei Qiang 64.6296% Zhen Huawei 8.7408% Du Lixia 9.1848% Zhang Wensong 3.0000% |
|
2011-1-18 |
Shareholder (s) (% of Shareholding) |
Xiong Ronghui 4.0744% Xiao Feng 10.3704% Wei Qiang 64.6296% Zhen Huawei 8.7408% Du Lixia 9.1848% Zhang Wensong 3.0000% |
Xiong Ronghui 1.43% Zhang Wensong 1.05% Wei Qiang 22.62% Du Lixia 3.21% Xiao Feng 3.63% Alibaba (China) Network Technology Co., Ltd.65.00% Zhen Huawei 3.06% |
|
Registered Capital |
CNY 13,500,000 |
cny 21,782,977 |
|
|
2014-5-15 |
Shareholder (s) (% of Shareholding) |
Xiong Ronghui1.43% Zhang Wensong1.05% Wei Qiang22.62% Du Lixia3.21% Xiao Feng3.63% Alibaba (China) Network Technology Co., Ltd.65.00% Zhen Huawei3.06% |
Alibaba (China) Network Technology Co.,
Ltd.100% |
|
Legal Form |
Limited Liabilities Company |
One-Person Limited Liabilities Company |
|
|
2014-10-22 |
Registered Capital |
CNY 21,782,977 |
CNY 300,000,000 |
|
2015-3-10 |
Registered Capital |
CNY 300,000,000 |
CNY 3,300,000,000 |
|
2016-2-25 |
Business Scope |
Domestic commerce; importing and exporting
commodities and technology, economic information consultation, online
commodity services, international freight forwarding business. |
Domestic commerce; importing and exporting commodities and technology,
economic information consultation, online commodity services, international
freight forwarding business; and Customs broking. |
|
-- |
Registration No./ Unified Social Credit Code |
440301103275393 |
91440300734141160H |
|
2017-3-8 |
Address |
6/F Hongchang Plaza, No. 2001 Shennan East
Road, Nanhu Street, Luohu District, Shenzhen, Guangdong Province |
Room No. 301, Building S2, Ali Cloud
Building, No. 3239 Keyuan Road South (Shenzhen Bay), Yuehai Street, Nanshan
District, Shenzhen, Guangdong Province 518000 PR China |
|
Supervisor |
Liu Zheng |
Huang Rong |
|
|
2017-11-22 |
Legal Representative |
Wei Qiang |
Zhang Kuo |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
|
Alibaba (China) Network Technology Co.,
Ltd. |
100 |
SC’s Chief Executives:-
|
Position |
Name |
|
Legal Representative, Chairman and General
Manager |
Zhang Kuo |
|
Director |
Shen Kai |
|
Chen Siying |
|
|
Supervisor |
Huang Rong |
No recent development was found during our checks at present.
Alibaba (China) Network Technology Co., Ltd. 100
-----------------------------------------------
Date of Registration: September 9, 1999
Unified Social Credit Code: 91330100716105852F
Registered Capital: USD 596,900,000
Zhang Kuo, Legal
Representative, Chairman and General Manager
-----------------------------------------------------------------------------------------------
Ø
Gender: M
Ø
Nationality: China
Ø Qualification:
University
Ø Working experience
(s):
At present, working in SC as legal
representative, chairman and general manager
Director
-----------
Shen Kai
Chen Siying
Supervisor
-------------
Huang Rong
SC’s registered business scope includes domestic commerce;
importing and exporting commodities and technology, economic information consultation,
online commodity services, international freight forwarding business; and
Customs broking.
SC is mainly
engaged in providing trade service, including customs, tax, foreign exchange,
finance, logistics and etc.
In November, 2011,
SC joined ALIBABA and assisted it providing one-stop service from “find foreign
trade enterprises” to “do business with foreign trade enterprises” and making
strategic adjustment from “meet at ALIBABA” to “work at ALIBABA”, which enable
ALIBABA to offer comprehensive services for a wide range of small and
medium-sized enterprises as well as individuals.
The buying terms
of SC include Check, T/T and Credit of 30-60 days. The payment terms of SC
include Check, T/T and Credit of 30-60 days.
Staff & Office:
--------------------------
SC is known
to have approx. 633 staff at
present.
SC rents an area
as its operating office, but the detailed information is unknown.
SC is known to have the
following subsidiaries at present,
Jiangsu
OneTouch Business Service Co., Ltd.
---------------------------------------
Unified Social Credit Code: 91320592MA1MP5J503
Legal Form: Limited Liabilities
Company
Registered Capital: CNY 10,000,000
Shandong OneTouch
Business Service Co., Ltd.
---------------------------------------
Unified Social Credit Code: 91370103353478421A
Registration No.: July 29, 2015
Legal Form: One-person Limited Liabilities Company
Registered Capital: CNY 10,000,000
Chongqing OneTouch
Business Service Co., Ltd.
---------------------------------------
Date of
Registration: April 29, 2016
Unified Social
Credit Code: 91500000MA5U5R9E
Legal Form:
One-person Limited Liabilities Company
Legal
Representative: Yu Yong
Registered
Capital: CNY 10,000,000
Fujian OneTouch
Business Service Co., Ltd.
---------------------------------------
Date of
Registration: December 30, 2014
Unified Social
Credit Code: 91350105315407956L
Legal Form:
One-person Limited Liabilities Company
Legal
Representative: Guo Zhuoqiong
Registered
Capital: CNY 10,000,000
Zhejiang OneTouch
Business Service Co., Ltd.
---------------------------------------
Date of
Registration: July 30, 2014
Unified Social
Credit Code: 913301083113158270
Legal Form: One-person
Limited Liabilities Company
Legal
Representative: Yu Yong
Registered
Capital: CNY 10,000,000
Shenzhen Haianpu
Technology Co., Ltd.
------------------------------------
Date of
Registration: November 20, 2014
Unified Social Credit
Code: 91440300068572005D
Legal Form:
One-person Limited Liabilities Company
Legal
Representative: Wei Qiang
Registered
Capital: CNY 100,000
Overall payment appraisal:
( ) Excellent ( ) Good (X) Average ( ) Fair ( ) Poor ( ) Not yet be 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.
Basic Bank:
Bank
of China Shenzhen Renmin
South Road Sub-branch
AC#: 4000029119200031572
Balance Sheet
|
Unit: CNY’000 |
As
of Dec. 31, 2012 |
As
of Dec. 31, 2013 |
As
of Dec. 31, 2014 |
As
of Dec. 31, 2015 |
|
39,560 |
1,240,600 |
235,400 |
230,290 |
|
|
Short-term investment |
0 |
3,004,250 |
0 |
0 |
|
Accounts
receivable |
8,460 |
537,980 |
123,280 |
980 |
|
Advances to
suppliers |
440 |
6,690 |
4,690 |
2,100 |
|
Other receivable |
625,000 |
1,316,650 |
2,712,430 |
5,808,910 |
|
Inventory |
1,880 |
9,290 |
0 |
0 |
|
Interest
receivable |
0 |
12,450 |
0 |
0 |
|
Other current
assets |
17,620 |
0 |
175,710 |
0 |
|
|
------------------ |
------------------ |
------------------ |
------------------ |
|
Current assets |
692,960 |
6,127,910 |
3,251,510 |
6,042,280 |
|
Long-term
investment |
1,840 |
6,600 |
16,620 |
36,640 |
|
Fixed assets |
1,940 |
3,900 |
5,850 |
14,300 |
|
Construction in
progress |
0 |
0 |
0 |
0 |
|
Intangible
assets |
0 |
0 |
0 |
0 |
|
Long-term
prepaid expenses |
0 |
4,130 |
3,060 |
230 |
|
Deferred income
tax assets |
0 |
100 |
0 |
0 |
|
Other
non-current assets |
7,870 |
50 |
0 |
0 |
|
|
------------------ |
------------------ |
------------------ |
------------------ |
|
Total assets |
704,610 |
6,142,690 |
3,277,040 |
6,093,450 |
|
|
============= |
============= |
============= |
============= |
|
Short-term loans |
577,980 |
3,915,390 |
1,642,150 |
2,151,510 |
|
Notes payable |
0 |
0 |
0 |
0 |
|
Accounts payable |
810 |
1281,290 |
1,020 |
8,870 |
|
Wages payable |
4,560 |
3,560 |
14,640 |
32,480 |
|
Taxes payable |
-1,810 |
27,270 |
-13,420 |
-14,180 |
|
Advances from
clients |
0 |
0 |
0 |
0 |
|
Other payable |
7,270 |
766,160 |
1,328,720 |
776,280 |
|
Interest payable |
0 |
10,290 |
0 |
0 |
|
Other current
liabilities |
83,560 |
6,150 |
13,190 |
29,430 |
|
|
------------------ |
------------------ |
------------------ |
------------------ |
|
Current
liabilities |
672,370 |
6,010,110 |
2,986,300 |
2,984,390 |
|
Non-current
liabilities |
0 |
0 |
0 |
2,798,160 |
|
|
------------------ |
------------------ |
------------------ |
------------------ |
|
Total
liabilities |
672,370 |
6,010,110 |
2,986,300 |
5,782,550 |
|
Equities |
32,240 |
132,580 |
290,740 |
310,900 |
|
|
------------------ |
------------------ |
------------------ |
------------------ |
|
Total
liabilities & equities |
704,610 |
6,142,690 |
3,277,040 |
6,093,450 |
|
|
============= |
============= |
============= |
============= |
Income Statement
|
Unit: CNY’000 |
As of Dec. 31,
2012 |
As of Dec. 31,
2013 |
As of Dec. 31,
2014 |
As of Dec. 31,
2015 |
|
Revenue |
6,716,480 |
15,416,850 |
6,668,800 |
505,605 |
|
Cost of sales |
6,633,480 |
15,243,250 |
6,542,070 |
155,230 |
|
Taxes and surcharges |
2,660 |
890 |
1,020 |
3,310 |
|
Sales expense |
20,160 |
19,830 |
71,460 |
28,070 |
|
Management expense |
50,320 |
90,430 |
154,370 |
252,440 |
|
Finance expense |
23,710 |
92,830 |
1,440 |
-61,410 |
|
Investment
income |
1,190 |
125,310 |
73,930 |
882,570 |
|
Profit before
tax |
-13,790 |
135,930 |
-50,180 |
-181,660 |
|
Less: profit tax |
-2,270 |
33,980 |
16,670 |
0 |
|
-11,520 |
101,950 |
-66,850 |
-181,660 |
Important Ratios
=============
|
|
As
of Dec. 31, 2012 |
As
of Dec. 31, 2013 |
As
of Dec. 31, 2014 |
As
of Dec. 31, 2015 |
|
*Current ratio |
1.03 |
1.02 |
1.09 |
2.02 |
|
*Quick ratio |
1.03 |
1.02 |
1.09 |
2.02 |
|
*Liabilities
to assets |
0.95 |
0.98 |
0.91 |
0.95 |
|
*Net profit
margin (%) |
-0.17 |
0.66 |
-1.00 |
-35.93 |
|
*Return on
total assets (%) |
-1.63 |
1.66 |
-2.04 |
-2.98 |
|
*Inventory /
Revenue ×365 |
1 day |
1 day |
-- |
-- |
|
*Accounts
receivable/ Revenue ×365 |
1 day |
13 days |
7 days |
1 day |
|
*Revenue/Total
assets |
9.53 |
2.51 |
2.04 |
0.08 |
|
*Cost of sales
/ Revenue |
0.99 |
0.99 |
0.98 |
0.31 |
PROFITABILITY:
FAIR
l The revenue of SC
appears fairly good in its line, and it decreased significantly in 2015.
l SC’s net profit
margin is fair in 2012 and 2014, and average in 2013, poor in 2015.
l SC’s return on
total assets is fair in 2012 & 2014 & 2015, and average in 2013.
l
SC’s cost of sales is low, comparing with its
revenue in 2015.
LIQUIDITY: AVERAGE
l
The current ratio of SC is maintained in a normal
level.
l
SC’s quick ratio is maintained in a normal level.
l
SC has no inventory in 2014 and 2015.
l
The accounts receivable of SC is maintained in an
average level.
l
The short-term loans of SC appear large.
l
SC’s revenue is in an average level, comparing with
the size of its total assets.
LEVERAGE: FAIR
l
The debt ratio of SC is fairly high.
l
The risk for SC to go bankrupt is average.
Overall financial
condition of the SC: Fair.
SC is considered large-sized in its line with fair financial conditions.
The large amount of short-term loans could be a threat to SC’s financial
conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 63.74 |
|
|
1 |
INR 86.01 |
|
Euro |
1 |
INR 76.14 |
|
CNY |
1 |
INR 9.85 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
NIS |
|
|
|
|
Report Prepared
by : |
SYL |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
D |
High Risk |
Business dealing not recommended or on
secured terms only |
|
NB |
New Business |
No recommendation can be done due to
business in infancy stage |
|
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
·
Promoters
/ Management background
·
Payment
record
·
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.