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MIRA
INFORM REPORT
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Report No. : |
500750 |
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Report Date : |
30.03.2018 |
IDENTIFICATION DETAILS
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Name : |
SHANGHAI SILIAN PRINTING INK CHEMICAL CO., LTD |
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Registered Office : |
Bldg. 1-8 No. 220 Jiugan Road Sijing Town Songjiang
District Shanghai 201601, |
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Country : |
China |
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Financials (as on) : |
31.12.2016 |
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Date of Incorporation : |
15.01.1996 |
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Credibility Code: |
913101171341676824 |
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Legal Form : |
Limited liabilities co |
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Line of Business : |
The subject’s registered business scope includes
manufacturing printing ink, printing pigment, color, pigment and resin oil;
selling dyestuff intermediates and pigment intermediates; exporting self-made
products and technologies; importing and exporting raw and auxiliary materials,
instruments and meters, machinery equipment, spare parts and technology
needed in manufacturing and researching by the enterprise, excluding goods
and technologies prohibited by the state; processing imported materials;
three processing industries and one compensation (with permit if needed). |
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No. of Employees : |
242 |
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 : |
Good |
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Payment Behaviour : |
Regular |
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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 address
Company Name: SHANGHAI SILIAN PRINTING INK CHEMICAL CO., LTD.
Address : BLDG. 1-8 NO. 220 jiugan road SIJING town SONGJiANG DISTRICT SHANGHAI
201601, PR CHINA
Telephone : 0086-21-57620000
Facsimile : 0086-21-57626565
Website : --
Email : sili@si-li.com
Note: The exact address should be the heading one
REGISTRATION INFORMATION
Established Date : 1996-01-15
Credibility
Code : 913101171341676824
Legal Form : Limited liabilities co.
Issuing Authority : Administration for Industry & Commerce (AIC) – Songjiang
Status : Active
Registered Capital : RMB 171,555,556
Paid Up Capital : RMB 171,555,556
Turnover : RMB 209,492,000 (as of Dec. 31, 2016)
Equities : RMB 242,106,000 (as of
Dec. 31, 2016)
Chief Executive : Chen
Shiqiang
Business Line : Manufacturer
Manpower : 242
Tax Registration
Certificate No. : 913101171341676824
Organization Code : 13416768-2
HS
code : 3118955003
Import
& Export code: 3100134167682
Financial Condition : Fairly
good
Business Size : Medium
Enterprise
Payment : Regular
Registered Address
BLDG. 1-8 NO. 220
jiugan road SIJING town SONGJiANG DISTRICT SHANGHAI 201601, PR CHINA
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 RMB 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.
Premise
The
subject operates from premises located at the heading address, and this address
houses its operating office and factory in Shanghai. Our checks reveal that the
subject rents the total premise, but the square meters are unknown
MANAGEMENT
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Position |
Name |
Nationality |
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Legal representative, General
Manager Chairman |
Chen
Shiqiang |
Chinese |
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Directors |
Chen Jie Song Genzhong |
Chinese |
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Supervisors |
Zhang Hongxing |
Chinese |
MAJOR SHAREHOLDERS
Name %
Shareholding
Chen Jie 10
Shanghai Silian Industry Co., Ltd. 90
Shanghai Silian Industry Co., Ltd.
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Credibility Code: 91310117134146873T
Legal representative: Chen Shiqiang
Registered Capital: RMB 290,000,000
Established Date: 1994-04-19
KEY EVENTS
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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2015-11-30 |
Registered capital |
RMB 16,000,000 |
Present one |
BUSINESS OPERATIONS
The subject’s registered business scope includes
manufacturing printing ink, printing pigment, color, pigment and resin oil;
selling dyestuff intermediates and pigment intermediates; exporting self-made
products and technologies; importing and exporting raw and auxiliary materials,
instruments and meters, machinery equipment, spare parts and technology needed
in manufacturing and researching by the enterprise, excluding goods and
technologies prohibited by the state; processing imported materials; three
processing industries and one compensation (with permit if needed).
The subject is mainly engaged in
manufacturing and selling ink and dyes.
Products:
Printing ink
Printing pigment paste
Organic pigment
Synthetic resin
etc.
The subject sources its materials 70% from domestic market, and 30% from
overseas market. the subject sells 30% of its products in domestic market, and
70% to overseas market, mainly Pakistan, etc.
The buying terms of the subject include Check, T/T, L/C and Credit of
30-60 days. The payment terms of the subject include Check, T/T, L/C and Credit
of 30-60 days.
SUPPLIER & CUSTOMER
No record.
RELATED COMPANIES
No Subsidiary
NEGATIVE INFORMATION
Lawsuit
Record:
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Date |
Case No. |
Petitioner |
Defendant |
Executive court |
Status |
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2018-01-02 |
2017-0104 |
The subject company. |
Zhang Xiuhua |
People's
Court of Xuhui District, Shanghai |
Concluded |
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2017-06-15 |
2016-0511 |
The subject company. |
Huang Zhenlie |
People's
Court of Jinping District, Shantou |
Concluded |
Etc.
Trade payment experience: The subject 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 the subject was placed to
us for collection within the last 6 years.
Customs administrative penalty: No record.
Equity freeze information: No record.
Administrative Penalty: No record.
MORTGAGE
There is no record of mortgage
information at present.
TRADEMARK
No record.
PATENT
No record.
BANKING
Agricultural Bank of China Songjiang District Sijing
Subbranch
Account No.: --
ABBREVIATED
FINANCIAL STATEMENT
Financial
Summary
===============
Unit: RMB’000
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As of Dec. 31, 2015 |
As of Dec. 31, 2016 |
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Total assets |
232,435 |
299,734 |
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========= |
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Total liabilities |
27,008 |
57,628 |
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Equities |
205,427 |
242,106 |
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-------------- |
-------------- |
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Total liabilities & equities |
232,435 |
299,734 |
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Turnover |
231,711 |
209,492 |
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Profits before
tax |
35,766 |
48,931 |
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Less: tax |
8,958 |
12,252 |
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Profits |
26,808 |
36,679 |
Important
Ratios
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As of Dec. 31, 2015 |
As of Dec. 31, 2016 |
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*Liabilities to assets |
0.12
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0.19
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*Net profit margin (%) |
11.57
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17.51
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*Return on total assets (%) |
11.53
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12.24
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*Turnover/Total assets |
1.00
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0.70
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PROFITABILITY:
FAIRLY GOOD
l The
turnover of the subject appears fairly good in its line.
l the
subject’s net profit margin is fairly good.
l the
subject’s return on total assets is fairly good.
l the
subject’s turnover is average in 2015 but fair in 2016, comparing with the size
of its total assets.
LEVERAGE:
FAIRLY GOOD
l The
debt ratio of the subject is low.
l The
risk for the subject to go bankrupt is average.
TREND ANALYSIS
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2014 |
2015 |
2016 |
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Sales
Trend |
-- |
-- |
È |
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Profit
margin |
-- |
-- |
Ç |
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Debt to
assets ratio |
-- |
-- |
Ç |
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Overall Financial Condition |
□Good ■Fairly Good
□Stable □Fairly
Stable □Fair □Poor |
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COMMENT
The subject was registered as a Limited liabilities co. at
local Administration for Industry & Commerce (AIC - The official body of
issuing and renewing business license).
The subject is considered
medium-sized in its line with fairly good financial conditions.
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 92.28 |
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Euro |
1 |
INR 80.62 |
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CNY |
1 |
INR 10.35 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
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Analysis Done by
: |
NIS |
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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.