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MIRA INFORM REPORT
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Report No. : |
486419 |
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Report Date : |
18.01.2018 |
IDENTIFICATION DETAILS
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Name : |
GUILIN NANXIANG
EQUIPMENT TECHNOLOGY Co., Ltd. |
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Registered Office : |
Rm. 601-603, 6f, Bldg. 1, Jinhuatong Building, No. 19, Canluan Road,
Qixing District, Guilin City, Guangxi Zhuang Autonomous Region, 541004 Pr |
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Country : |
China |
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Date of Incorporation : |
24.11.2016 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Subject registered business scope includes R&D automated system;
selling mechanical equipment, mould, electronic components, network equipment
and computer software and hardware; network and monitoring project design,
development, construction, commissioning, maintenance and technical services;
import and export business. |
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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 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
GUILIN NANXIANG EQUIPMENT TECHNOLOGY Co., Ltd.
RM. 601-603, 6F, BLDG. 1, JINHUATONG BUILDING,
NO. 19, CANLUAN ROAD, QIXING DISTRICT, GUILIN CITY,
GUANGXI ZHUANG AUTONOMOUS REGION, 541004 PR CHINA
TEL: 86 (0) 773-5827773/86
(0) 13607730707 FAX:
86 (0) 773-5837776
EXECUTIVE
SUMMARY
INCORPORATION DATE :
NOV. 24, 2016
CREDIBILITY CODE :
91450300MA5KETRM1L
REGISTERED LEGAL FORM : LIMITED LIABILITIES COMPANY
CHIEF EXECUTIVE :
MR. ZHANG QUNZE (legal representative)
STAFF STRENGTH :
N/A
REGISTERED CAPITAL : CNY 1,000,000
BUSINESS LINE :
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: SC’s complete address should be the heading one.
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, 2016.
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 automated system; selling
mechanical equipment, mould, electronic components, network equipment and
computer software and hardware; network and monitoring project design,
development, construction, commissioning, maintenance and technical services;
import and export business.
SC is mainly engaged in selling rubber machinery.
Mr. Zhang Qunze has been legal representative and executive director of
SC since 2017.
SC’s management declined to disclose its staff strength.
SC is currently operating at the above stated address, and this address
houses its operating office in the commercial zone of Guilin. The detailed
information of the premise is unspecified.
http://www.glnxzb.com/
The design is professional and the content is well organized. At present it is
in both Chinese and English versions.
Email: zqzkf@163.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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2017-4-13 |
Legal representative |
Liu Ruiran |
Present one |
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Unspecified |
450309000133000 |
91450300MA5KETRM1L |
Import/ Export License No: 4500MA5KETRM1
HS Code: 4503360264
There is no record of litigation till now.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Bao Lin 10
Guilin Titop Rubber & Plastic Technology Co., Ltd 90
Guilin Titop Rubber & Plastic Technology Co., Ltd.
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Credibility Code: 91450323697648287G
Legal representative: Liu Ruiran
Date of incorporation: 2010-01-04
Legal
representative and Executive director:
Mr. Zhang Qunze is currently responsible for the overall management of
SC.
Working Experience(s):
From 2017 to present Working
in SC as legal representative and executive director
General
Manager:
Mr. Liu Ruiran is currently responsible for the daily management of SC.
Working Experience(s):
At present Working
in SC as general manager
Also working in Guilin Titop Rubber & Plastic Technology Co., Ltd.,
Dongguan Titop Rubber & Plastic Machinery Manufacture Co., Ltd. and
Dongguan Tuozhong Mechanical Equipment Co., Ltd. as legal representative
Supervisor:
Bao Lin
SC started its normal operation in 2017.
SC is mainly engaged in selling rubber machinery.
SC’s products mainly include: Pin Barrel Cold Feed Extruder, General
Cold Feed Extruder, Hot Feed Extruder, 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:
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.
Guilin Yinguo Enterprise Management Co., Ltd. (Literal Translation)
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Credibility Code: 91450300MA5L37LK80
Legal representative: Bao Lin
Date of incorporation: 2017-04-13
Dongguan Titop Rubber & Plastic Machinery Manufacture Co., Ltd.
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Credibility Code: 91441900669845806R
Legal representative: Liu Ruiran
Date of incorporation: 2007-11-18
Dongguan Tuozhong Mechanical Equipment Co., Ltd. (Literal Translation)
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Credibility Code: 91441900682470615X
Legal representative: Liu Ruiran
Date of incorporation: 2008-12-17
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 started its normal operation in 2017, so its financial information is
not available at present.
SC was established in Nov. of 2016, and started its normal operation in
2017.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 63.97 |
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1 |
INR 88.13 |
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Euro |
1 |
INR 78.35 |
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CNY |
1 |
INR 9.93 |
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 : |
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
·
Litigation
against the subject
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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.