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Report No. : |
499084 |
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Report Date : |
22.03.2018 |
IDENTIFICATION DETAILS
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Name : |
XINJIANG WANDA CO., LTD |
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Registered Office : |
No. 350 South Wuxing Road, Tianshan District,
Urumqi City, The Xinjiang Uygur Autonomous Region 830002 PR |
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Country : |
China |
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Financials (as on) : |
31.12.2015 |
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Date of Incorporation : |
15.10.1999 |
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Unified
Social Credit Code: |
91650100718900390A |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Subject registered business scope includes wholesale of
sulfur, 1,2-dichloropropane, 3-methylphenol, cashew nut shell liquid, sodium dichromate,
2,2-dihydroxydiethylamine, 2-aminoethanol, 1,3-butadiene, caproic acid,
2-chloro-4-nitroaniline; wholesale and retail of prepackaged foods and bulk
foods, fresh beef and mutton, aquatic products, food additives; selling wood,
clothing, textiles, agricultural machinery, light industrial products,
chemical products, agricultural and livestock products, fuel oil, coke, coal,
petroleum products, asbestos, cotton, cotton yarn, cotton linters, a class of
medical equipment, automation control equipment, instruments hardware,
electricity, mechanical equipment, feed, Chinese medicine, building
materials, automobiles, chemical fertilizers; cotton acquisition, house
leasing, seed cotton acquisition, commissioned processing, selling metal
materials, steel; business agency services; carry out small-scale trade in
the border; agricultural machinery equipment leasing |
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No. of Employees : |
34 |
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 : |
No Complaints |
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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 |
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COMPANY NAME |
Xinjiang Wanda Co., Ltd. |
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CURRENT ADDRESS/ REGISTERED
ADDRESS |
No. 350 South Wuxing Road, Tianshan
District, Urumqi City, The Xinjiang Uygur Autonomous Region 830002 PR China |
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TEL.
NO. |
86 (0) 991-2626296/2616799 |
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FAX
NO. |
86 (0) 991-2628098 |
Date of Registration : OCTOBER 15, 1999
Unified social credit code : 91650100718900390A
LEGAL FORM : limited liabilities Company
REGISTERED CAPITAL : CNY 21,500,000
staff : 34
BUSINESS CATEGORY : TRADING
Revenue : CNY 742,163,000 (AS OF DEC. 31, 2015)
EQUITIES : CNY 63,049,000 (AS OF DEC. 31, 2015)
WEBSITE : www.xjwd.com
E-MAIL : wd@xjwd.com
PAYMENT : No COMPLAINTS
MARKET CONDITION : COMPETITIVE
FINANCIAL CONDITION : fairly stable
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 of Industry & Commerce (SAIC) under Unified Social Credit
Code: 91650100718900390A.
SC’s Import and Export Enterprise
Code: 6500718900390
SC’s registered capital: CNY 21,500,000
SC’s paid-in capital: CNY 21,500,000
Registration Change Record:-
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Date |
Change of Contents |
Before the change |
After the change |
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Registered Capital |
CNY 50,000,000 |
CNY 21,500,000 |
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Registration No./ Unified Social Credit
Code |
650100030001164 |
91650100718900390A |
Current Co search indicates SC’s shareholders & chief
executives are as follows:-
|
Name of Shareholder (s) |
% of Shareholding |
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Xinjiang Production and Construction Corps Supply and Sales
Corporation |
51 |
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Xinjiang Production & Construction Corps Agricultural Material
Supply Company |
20 |
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Han Xinyu |
12 |
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Chang Hongyan |
5.75 |
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Ye Kun |
5 |
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Liang Li |
4.25 |
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Gan Jianhui |
2 |
SC’s Chief Executives:-
|
Position |
Name |
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Legal Representative and
Chairman |
Han Xinyu |
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General Manager |
Chang Hongyan |
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Director |
Wan Xiling |
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Wang Jianping |
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Xu Yanchun |
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Wu Jianjun |
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Supervisor |
Zhang Jimei |
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Cheng Xinggui |
No recent development was found during our checks at present.
Xinjiang Production and
Construction Corps Supply and
Sales Corporation 51
Xinjiang Production & Construction
Corps Agricultural Material
Supply Company 20
Han Xinyu 12
Chang Hongyan 5.75
Ye Kun 5
Liang Li 4.25
Gan Jianhui 2
Xinjiang
Production and Construction Corps Supply and Sales Corporation
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Date of Registration: April 19, 2001
Unified Social Credit Code: 9165000022858169X4
Registered Capital: CNY 500,000,000
Xinjiang
Production & Construction Corps Agricultural Material Supply Company
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Date of Registration: February 15, 1989
Unified Social Credit Code: 91650000228580910U
Registered Capital: CNY 192,200,000
Han
Xinyu , Legal
Representative and Chairman
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Ø Gender: M
Ø Nationality: China
Ø Qualification: University
Ø Working experience
(s):
At present, working in SC as legal
representative and chairman, also working in Xinjiang YInfeng Modern
Agricultural Equipment Co., Ltd. as legal representative
Chang
Hongyan , General Manager
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Ø Gender: F
Ø Nationality: China
Ø Qualification:
University
Ø Working experience
(s):
At present, working in SC as general
manager, also working in Huoerguosi Hengli Tongda Trade Co., Ltd. as legal
representative
Director
-----------
Wan Xiling
Wang Jianping
Xu Yanchun
Wu Jianjun
Supervisor
---------------
Zhang Jimei
Cheng Xinggui
SC’s registered business scope includes wholesale of sulfur,
1,2-dichloropropane, 3-methylphenol, cashew nut shell liquid, sodium
dichromate, 2,2-dihydroxydiethylamine, 2-aminoethanol, 1,3-butadiene, caproic
acid, 2-chloro-4-nitroaniline; wholesale and retail of prepackaged foods and
bulk foods, fresh beef and mutton, aquatic products, food additives; selling
wood, clothing, textiles, agricultural machinery, light industrial products,
chemical products, agricultural and livestock products, fuel oil, coke, coal,
petroleum products, asbestos, cotton, cotton yarn, cotton linters, a class of
medical equipment, automation control equipment, instruments hardware,
electricity, mechanical equipment, feed, Chinese medicine, building materials,
automobiles, chemical fertilizers; cotton acquisition, house leasing, seed cotton
acquisition, commissioned processing, selling metal materials, steel; business
agency services; carry out small-scale trade in the border; agricultural
machinery equipment leasing.
SC is
mainly engaged in international trade.
SC’s
products mainly include: cotton picker, ketchup,
etc.
SC sources the products 60% from domestic market, and 40% from overseas market. SC sells 40% of its products in domestic market, and 60% to 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 T/T, L/C and Credit of 30-60 days.
*Major Customers*
==============
Emf Inc.
Hindustan Z Inc.,
Ltd.
Qdot Exim Pvt.
Ltd.
Staff & Office:
--------------------------
SC is
known to have approx. 34 staff
at present.
SC rents an area
as its operating office of approx. 400 sq. meters at the heading address.
SC is known to have the
following subsidiaries at present,
Huoerguosi
Hengli Tongda Trade Co., Ltd.
Xinjiang
Yinfeng Dongfeng Agricultural Equipment Manufacturing Co., Ltd.
Xinjiang
YInfeng Modern Agricultural Equipment Co., Ltd.
Etc.
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.
The bank
information of SC is not filed in SAIC.
Financial Summary
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Unit: CNY’000 |
As
of Dec. 31, 2015 |
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Total assets |
566,965 |
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Total liabilities |
503,916 |
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Equities |
63,049 |
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Revenue |
742,163 |
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Profit before
tax |
18,439 |
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Less: profit tax |
256 |
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Profits |
18,183 |
Important Ratios
=============
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As
of Dec. 31, 2015 |
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*Liabilities
to assets |
0.89 |
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*Net profit
margin (%) |
2.45 |
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*Return on
total assets (%) |
3.21 |
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*Revenue/Total
assets |
1.30 |
PROFITABILITY:
AVERAGE
l The revenue of SC appears fairly good in its line.
l SC’s net profit
margin is average.
l SC’s return on total
assets is average.
LIQUIDITY:
AVERAGE
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: Fairly Stable.
SC is considered medium-sized in its line with
fairly stable financial conditions.
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 65.22 |
|
|
1 |
INR 91.33 |
|
Euro |
1 |
INR 79.96 |
|
CNY |
1 |
INR 10.28 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRA |
|
|
|
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Report Prepared
by : |
KET |
RATING EXPLANATIONS
|
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 |
|
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.