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MIRA INFORM REPORT
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Report No. : |
494933 |
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Report Date : |
01.03.2018 |
IDENTIFICATION DETAILS
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Name : |
SHANDONG DONGLIN NEW MATERIALS CO., LTD. |
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Registered Office : |
No. 3130 Panlongshan Road, Longshan Hi-Tech Industry
Zone, Linqu County, Weifang City, Shandong Province 262600 Pr |
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Country : |
China |
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Date of Incorporation : |
05.06.2013 |
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Unified Social
Credit Code : |
91370700069994525L |
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Legal Form : |
Shares Limited Company |
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Line of Business : |
Subject registered business scope includes manufacturing
and selling polyvinyl chloride auxiliaries; selling primary plastic and
synthetic resins, plastics additives, polymer additives, chlorinated
polyethylene, printing and dyeing auxiliaries, pigments; goods import and
export. |
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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 : |
A |
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Credit Rating |
Explanation |
Rating Comments |
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A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
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Status : |
Satisfactory |
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Payment Behaviour : |
Slow but correct |
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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 (30.09.2017) |
Current Rating (31.12.2017) |
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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 announced it would allow a resumption of gradual liberalization. From
2013 until early2015, the renminbi (RMB) appreciated roughly 2% against the
dollar, but the exchange rate fell 13% from mid-2015 until end-2016 amid strong
capital outflows in part stemming from the August 2015 official devaluation; in
2017 the RMB resumed appreciating against the dollar – roughly 7% from
end-of-2016 to end-of-2017. From 2013 to 2017, China had one of the fastest growing
economies in the world, averaging slightly more than 7% real growth per year.
In 2015, the People’s Bank of China announced it would continue to carefully
push for full convertibility of the renminbi, after the currency was accepted
as part of the IMF’s special drawing rights basket. However, since late 2015
the Chinese Government has strengthened capital controls and oversight of
overseas investments to better manage the exchange rate and maintain financial
stability.
The Chinese Government faces numerous economic challenges including: (a)
reducing its high domestic savings rate and correspondingly low domestic
household consumption; (b) managing its high corporate debt burden to maintain
financial stability; (c) controlling off-balance sheet local government debt
used to finance infrastructure stimulus; (d) facilitating higher-wage job
opportunities for the aspiring middle class, including rural migrants and
college graduates, while maintaining competitiveness; (e) dampening speculative
investment in the real estate sector without sharply slowing the economy; (f)
reducing industrial overcapacity; and (g) raising productivity growth rates
through the more efficient allocation of capital and state-support for
innovation. 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 more progress on subsidizing innovation than
rebalancing the economy. Beijing has committed to giving the market a more
decisive role in allocating resources, but the Chinese Government’s policies
continue to favor state-owned enterprises and emphasize stability. 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. The slight acceleration in economic growth in 2017—the first such
uptick since 2010—gives Beijing more latitude to pursue its economic reforms,
focusing on financial sector deleveraging and its Supply-Side Structural Reform
agenda, first announced in late 2015.
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Source
: CIA |
Company name & address
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COMPANY NAME |
SHANDONG DONGLIN NEW MATERIALS CO., LTD. |
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CURRENT ADDRESS/ REGISTERED ADDRESS |
NO. 3130 PANLONGSHAN ROAD,
LONGSHAN HI-TECH INDUSTRY ZONE, LINQU COUNTY, WEIFANG CITY, SHANDONG PROVINCE
262600 PR CHINA |
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TEL. NO. |
86 (0)
24-58302035/58302676 |
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FAX NO. |
86 (0) 24-58302036 |
EXECUTIVE
SUMMARY
Date of Registration :
JUNE 5, 2013
UNIFIED
SOCIAL CREDIT CODE : 91370700069994525L
LEGAL FORM : SHARES LIMITED COMPANY
CHIEF EXECUTIVE :
YI TONGGANG
(LEGAL REPRESENTATIVE)
REGISTERED CAPITAL :
CNY 30,000,000
staff :
N/A
BUSINESS CATEGORY :
MANUFACTURING & TRADING
Revenue :
N/A
EQUITIES :
N/A
WEBSITE : www.donglinchem.com
E-MAIL :
info@donglinchem.com
PAYMENT :
slow but correct
MARKET CONDITION :
average
FINANCIAL CONDITION : N/A
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
OPERATIONAL
TREND & GENERAL REPUTATION
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
LEGAL STATUS
& HISTORY
SC
was established as shares limited company of PRC with State Administration of
Industry & Commerce (SAIC) under unified social credit code:
91370700069994525L.
SC’s Import and Export Enterprise Code:
3700069994525
SC’s registered capital: CNY 30,000,000
SC’s paid-in capital: CNY 20,000,000
Registration Change Record:-
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Date |
Change of Contents |
Before the change |
After the change |
|
2016-10-20 |
Registered Capital |
CNY 20,000,000 |
CNY 30,000,000 |
|
-- |
Registration No./ Unified Social Credit Code |
370700200025078 |
91370700069994525L |
Current Co search indicates SC’s shareholders & chief executives are
as follows:-
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Name of Shareholder (s) |
% of Shareholding |
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Weifang Donglin Chemical Co., Ltd. |
2 |
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Yi Tonggang |
78.5 |
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Zhang Xiaoquan |
4 |
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Li Guilai |
3 |
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Other Shareholders |
12.5 |
SC’s Chief Executives:-
|
Position |
Name |
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Legal Representative, Chairman and General
Manager |
Yi Tonggang |
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Director |
Zhang Xiaoquan |
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Ma Liangshi |
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Li Guilai |
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Jing Bin |
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Supervisor |
Han Zhiqiang |
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Liu Xiangming |
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|
Liu Feng |
RECENT
DEVELOPMENT
No
recent development was found during our checks at present.
SHAREHOLDER
CHART & BACKGROUND
Name
%
of Shareholding
Weifang
Donglin Chemical Co., Ltd. 2
Yi
Tonggang 78.5
Zhang
Xiaoquan 4
Li
Guilai 3
Other
Shareholders 12.5
Weifang
Donglin Chemical Co., Ltd.
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Date
Of Registration: January 9, 2004
Unified
Social Credit Code: 91370724758253378F
Chief
Executive : Yi Tonggang
Registered
Capital: CNY 8,000,000
MANAGEMENT
Yi Tonggang, Legal Representative, Chairman and General
Manager
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Gender:
M
Nationality:
China
Qualification:
University
Working
experience (s):
At
present, working in SC as legal representative, chairman and general manager,
also working in Weifang Donglin Chemical Co., Ltd. and Linqu
Donglin International Trade Co., Ltd. as legal representative
Director
-----------
Zhang
Xiaoquan
Ma
Liangshi
Li
Guilai
Jing
Bin
Supervisor
--------------
Han
Zhiqiang
Liu
Xiangming
Liu
Feng
BUSINESS
OPERATION
SC’s registered business scope includes manufacturing and
selling polyvinyl chloride auxiliaries; selling primary plastic and synthetic resins,
plastics additives, polymer additives, chlorinated polyethylene, printing and
dyeing auxiliaries, pigments; goods import and export.
SC
is mainly engaged in manufacturing and selling chemical products.
SC’s
products mainly include: PVC impact modifier, PVC processing aid, PVC foaming
regulator, other plastic additives, etc.
SC sources its materials 100% from domestic market. SC sells 85% of its products in domestic markets and 15% 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.
*Major
Customers*
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Madison
Polymer Additives
Basil
Prompt Vinyl Private Limited
Staff & Office:
--------------------------
SC refused to release the details of its
staff.
SC
owns an area as its operating office and factory, but the detailed information
is unknown.
RELATED
COMPANY
SC
is not known to have any subsidiary at present.
PAYMENT
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 records 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.
BANKING
The
bank information of SC is not filed in SAIC.
FINANCIALS
The financials of SC is not available in
local SAIC, and SC also refused to release the details.
CONCLUSIONS
SC
is considered medium-sized in its line with a development history of 5 years.
FOREIGN EXCHANGE RATES
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Currency |
Unit
|
Indian Rupees |
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US Dollar |
1 |
INR 65.10 |
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|
1 |
INR 90.45 |
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Euro |
1 |
INR 79.59 |
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CNY |
1 |
INR 10.27 |
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
·
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.