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MIRA INFORM REPORT
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Report No. : |
507245 |
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Report Date : |
07.05.2018 |
IDENTIFICATION DETAILS
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Name : |
HANGZHOU HONGQIN PHARMTECH CO.,LTD. |
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Registered Office : |
Room 823 Bldg. 5 Huihe Xifuhui No. 759 Hongpu
Road Pengbu Street Jianggan Dist. Hangzhou Zhejiang Province, Pr |
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Country : |
China |
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Date of Incorporation : |
17.02.2017 |
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Credibility Code : |
91330104MA28M0E90J |
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Legal Form : |
One-person Limited Liability Company |
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Line of Business : |
The subject’s registered business scope includes service: technology
development, technology service, technology consultation and achievement transfer
of medical devices, agricultural technology, chemical products,
pharmaceutical products, medical technology and biotechnology; marketing
planning, business management consultation, non-medical health management
consultation; wholesaling and retailing chemical products and raw materials,
plastics, rubber raw materials and products, first & second kinds of
medical devices, primary edible agricultural products, third kinds of medical
devices; importing and exporting goods and technologies (with permit if
needed) |
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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 : |
NB |
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Credit Rating |
Explanation |
Rating Comments |
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NB |
New Business |
No recommendation can be done due to
business in infancy stage |
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Status : |
New Business |
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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 (30.09.2017) |
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 : HANGZHOU HONGQIN PHARMTECH CO.,LTD.
Address : --
Telephone : --
Facsimile : --
Website : --
Email : --
Note: We failed to find the contact number of
the subject.
REGISTRATION INFORMATION
Established Date : 2017-02-17
Credibility Code : 91330104MA28M0E90J
Legal Form : One-person Limited Liability Company
Issuing Authority : Administration for Industry &
Commerce (AIC) – Jianggan
Dist. Hangzhou
Status : Active
Registered Capital : RMB 1,000,000
Paid Up Capital : --
Turnover : --
Equities : --
Chief Executive : Zhang Shujun
Business Line : --
Manpower : --
Tax Registration
Certificate No. : 91330104MA28M0E90J
Organization Code : MA28M0E9-0
HS code :
3301965K91
Import & Export code : 3300MA28M0E90
Financial
Condition : --
Business Size : --
Payment : Unknown
Registered Address
Room 823 Bldg. 5 Huihe Xifuhui No. 759 Hongpu
Road Pengbu Street Jianggan Dist. Hangzhou Zhejiang Province, Pr China
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 RMB100,000. 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.
Premise
It is not possible to contact the company
directly to obtain further information. The nature and extent of the company's
operations could not be determined and it could not be confirmed whether the
company operates from the Registered Office address or in another location.
MANAGEMENT
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Position |
Name |
Nationality |
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Legal representative, General Manager
Executive Director |
Zhang Shujun |
Chinese |
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Supervisors |
Xiong
Jiayuan |
Chinese |
MAJOR SHAREHOLDERS
Name % Shareholding
Zhang Shujun 100
KEY EVENTS
No Significant Changes.
BUSINESS OPERATIONS
The subject’s registered business scope includes service: technology development,
technology service, technology consultation and achievement transfer of medical
devices, agricultural technology, chemical products, pharmaceutical products,
medical technology and biotechnology; marketing planning, business management
consultation, non-medical health management consultation; wholesaling and
retailing chemical products and raw materials, plastics, rubber raw materials
and products, first & second kinds of medical devices, primary edible
agricultural products, third kinds of medical devices; importing and exporting
goods and technologies (with permit if needed)
Exhausting our efforts, we are unable to find
the subject’s telephone number in various information sources.
We are unable to contact the subject, so the
operations of the subject could not be provided.
SUPPLIER
& CUSTOMER
No record.
RELATED COMPANIES
No Subsidiary
NEGATIVE INFORMATION
Lawsuit Record: No record.
Trade payment experience: No record.
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
No record.
ABBREVIATED FINANCIAL STATEMENT
Established newly in Yr2017, the subject’s
financial for Yr2015 & 2016 are unarchived in the local AIC.
COMMENT
The subject was registered as a One-person Limited Liability Company at
local Administration for Industry & Commerce (AIC - The official body of
issuing and renewing business license).
Despite having exhausted all our effort, we are unable to contact the
subject, so precise credit estimate can not be made at present.
FOREIGN EXCHANGE RATES
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Currency |
Unit
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Indian Rupees |
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US Dollar |
1 |
INR 66.78 |
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1 |
INR 90.58 |
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Euro |
1 |
INR 79.97 |
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CNY |
1 |
INR 10.55 |
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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PRI |
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Report Prepared
by : |
SYL |
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
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Litigation
against the subject
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Industry
scenario / competitor analysis
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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.