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MIRA INFORM REPORT
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Report No. : |
498096 |
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Report Date : |
20.03.2018 |
IDENTIFICATION DETAILS
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Name : |
NANTONG BOTAO
CHEMICAL CO., LTD. |
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Registered Office : |
No. 2, Xiangjiang
Road, Changjiang Town (Rugao Port Zone), Rugao, Jiangsu
Province, 226532 Pr |
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Country : |
China |
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Date of Incorporation : |
10.02.2010 |
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Credibility Code: |
913206825511623569 |
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Legal Form : |
One-Person Limited Liability Company |
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Line of Business : |
Subject registered business scope includes manufacturing and selling chemical
products (benzotriazole, methylbenzotriazole, 5-methylbenzotriazole,
benzotriazole sodium salt, methylbenzotriazole sodium salt, bisphenol S,
tetrabromobisphenol S, 2-6 di-tert-butyl-4-methylphenol, trimethylolethane,
p-hydroxyanisole); importing and exporting goods and technology (excluding
the items limited or prohibited by state). (with permit if needed) |
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No. of Employees : |
189 |
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 early 2015, 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 and dress
NANTONG BOTAO
CHEMICAL CO., LTD.
NO. 2, XIANGJIANG
ROAD, CHANGJIANG TOWN (RUGAO PORT ZONE),
RUGAO, JIANGSU
PROVINCE, 226532 PR CHINA
TEL: 86 (0)
513-87968184 FAX: 86 (0)
513-87961699
EXECUTIVE
SUMMARY
INCORPORATION DATE : FEB. 10, 2010
credibility code : 913206825511623569
REGISTERED LEGAL FORM : One-person Limited
Liability Company
STAFF STRENGTH : 189
REGISTERED CAPITAL : CNY 20,000,000
BUSINESS LINE :
MANUFACTURING AND TRADING
TURNOVER : N/A
EQUITIES : N/A
PAYMENT : SLOW BUT CORRECT
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 Ren Min Bi
Note: SC’s correct name 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 Feb. 10, 2010, and
has been under the present legal form since Aug. of 2016.
Company Status: One-person
Limited Liability Company Single person LLC refers to a
limited liability company set up by only one natural person or legal person
as the single shareholder of it. The minimum registered capital
of Single person LLC is CNY100,000. The shareholder’s capital contributes,
as set out by the articles of associations should be a lump-sum payment in
full. One natural person can only
invest in and set up one limited liability company, which is not permitted
to invest in and set up a new Single person LLC. As to any one-person limited
liability company, the sole-investor nature of the natural person or legal
person shall be indicated in the registration documents of the company and
shall be indicated in the business license thereof as well. The regulation of Single person
LLC should be set up by the shareholder The
regulation of Single person LLC has no shareholder meeting.
SC’s registered business scope includes manufacturing and selling
chemical products (benzotriazole, methylbenzotriazole, 5-methylbenzotriazole,
benzotriazole sodium salt, methylbenzotriazole sodium salt, bisphenol S,
tetrabromobisphenol S, 2-6 di-tert-butyl-4-methylphenol, trimethylolethane,
p-hydroxyanisole); importing and exporting goods and technology (excluding the
items limited or prohibited by state). (with permit if needed)
SC is mainly
engaged in manufacturing and selling chemical products.
Huang Haitao (has
been the legal representative and general manager of SC since Sep. of 2014.
SC is
known to have approx. 189 employees at present.
SC
is currently operating at the above stated address, and this address houses its
operating office and factory in Rugao. The detailed information of the premise
is unspecific.
http://www.botaochem.com The
design is professional and the content is well organized. At present it is in
Chinese and English versions.
E-mail: guolinling819@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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2014-09-26 |
Legal rep. |
Huang Kuisheng |
Present one |
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2016-08-26 |
Shareholders and shareholding |
Huang Haitao 50% Wang Ying 50% |
Present one |
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Legal form |
Limited liabilities co. |
Present one |
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Unknown |
Registration no./credibility code |
320682000209686 |
913206825511623569 |
HS Code: 3206964508
Import/ Export License No: 3200551162356
Certificates:
For the past two years there is no record of litigation.
MAIN SHAREHOLDERS:
Name %
of Shareholding
Nantong Yutu Group Co., Ltd. 100
Credibility code: 91320682714135740U
Legal rep.: Huang Haibo
Incorporation date: 1996-05-28
l Legal representative
and general manager:
Huang Haitao is currently responsible for the daily management of SC.
Working Experience(s):
From Sep. of 2014 to
present Working in SC as legal representative and general manager.
l Chairman:
Mr. Huang Kuisheng , born in 1950,
senior economist. He is currently responsible for the overall management of SC.
Working Experience(s):
Before Sep. of 2014 Worked in SC as legal representative.
At
present Working in SC as chairman.
Also
working in Rugao Jinling Chemical Co., Ltd. and Rugao Connect Chemical Co.,
Ltd. as legal representative.
l Directors:
Huang
Haitao
Wang
Ying
l Supervisor:
Ding Lianfang
SC is mainly
engaged in manufacturing and selling chemical products.
SC’s products
mainly include
Needle
Powdery
Granule (particle
size 0.7-1.5mm)
Flake
Crude product
tabletting
Sodium
benzotriazole (liquid) (content 37-43%)
Granular
(irregular)
Tolytriazole
Sodium Salt (liquid) (content 47-53%)
Etc.
According to SC’s
staff, SC sells its products to overseas market and in domestic market.
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 major clients and suppliers.
TRADEMARKS & PATENTS
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Registration No. |
20766951 |
20766917 |
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Registration Date |
2017-09-21 |
2017-09-21 |
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Trademark Design |
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Industry code:
2600
Industry name:
Chemical Raw Materials and Chemical Products Manufacturing
The gross domestic product of China in 2016
which is 74412.72 billion that is increased 6.7% than previous year.
In the first half of 2016, the added value of the chemical industry
increased by 9.2%year on year, and the growth rate dropped 0.2 percentage
points year on year.Among the main products, the output of ethylene is 9.2
million tons, increased by 8.8%;the output of plastics in primary form is 39.76
million tons, increased by 7.7%;the output of Synthetic rubber is 2.57 million
tons, increased by 4.1%;the output of Synthetic fiber is 22.56 million tons, increased
by 8.4%.the output of Caustic soda is 16.19
million tons, increased by 6.4%;the output of Soda ash is 12.68 million tons,
increased by 0.9%.The output of chemical fertilizers is 37.19 million tons,
increased by 1.4%.
Among them, the output of nitrogen fertilizer and potash fertilizer
increased by 3.1%and 6.7% respectively, and the output of phosphate fertilizer
decreased by 2%.The output of Pesticide is 1.88 million tons, increased by
4.3%.The output of Rubber
tire cover tire is 457.23 million, increased by 9.1%.The output of Calcium carbide is of 12.58 million tons, increased by
2.4%
The output of all types of chemical products
in the first half of 2016
(Unit: million tons)
Rugao Jinling Chemical Co., Ltd.
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Credibility
code: 91320682722838702B
Legal
rep.: Huang Kuisheng
Incorporation
date: 2004-05-25
Web:
http://www.jinlingchem.com
Rugao
Connect Chemical Co., Ltd.
========================
Credibility
code: 91320682728024320C
Legal
rep.: Huang Kuisheng
Incorporation
date: 2001-05-22
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 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.
Jiangsu Rugao Rural Commercial Bank Huangshi Sub-branch
AC#: 3206223001201000015618
Relationship:
Normal.
SC’s management declined to release any financial information.
SC is considered medium-sized in its line with a development history of
8 years. Taking into consideration of SC’s general performance, reputation as
well as market conditions we would rate SC as an average credit risk company.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 65.04 |
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1 |
INR 90.56 |
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Euro |
1 |
INR 79.78 |
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CNY |
1 |
INR 10.30 |
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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VIV |
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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
·
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.