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MIRA
INFORM REPORT
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Report No. : |
508002 |
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Report Date : |
14.05.2018 |
IDENTIFICATION DETAILS
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Name : |
WUXI TBS SCIENCE & TECHNOLOGY CO.,LTD |
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Registered Office : |
508, No.21, Beilei New Village, Binhu Dist, Wuxi City |
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Country : |
China |
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Date of Incorporation : |
20.03.2017 |
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Unified
Social Credit Code.: |
91320211MA1NL37078 |
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Legal Form : |
Limited Liabilities Company |
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Line of Business : |
Subject is mainly engaged
in sales of industrial automatic equipment, etc., including industrial
robots, cutting machines, fan-free industrial computers, industrial tablet
computers, industrial motherboards, shearing machines, electro-hydraulic
servo bending machines, electric bending machines |
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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
|
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 |
INVESTIGATION
RECORD
|
Name of Interviewee |
Mr. Xu |
|
Tel |
(86 )13921159896 |
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Investigation Way |
Telephone |
ORDER DETAILS &
INVESTIGATION RESULTS
|
- |
Order Information |
Verification |
|
Name(English) |
TBS
Industrial Group Ltd |
Subject's
staff confirmed "TBS" is its English abbreviation but refused to
disclose its exact English name. The English name provided in the report is
the official one. |
|
Address
(English) |
Room
6-901 Xingang Building, Xingchuang 1 road, Wuxi |
Correct |
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Tel |
0086-139-2115-9896 |
Correct |
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Investigation
Note |
Subject's staff was cautious and refused to disclose the
company's fixed-line phone number or fax number. No relevant information was
obtained from official or public channels. Hence only one mobile phone number
is provided in the report. |
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ABSTRACT
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Name (English) |
WUXI TBS SCIENCE & TECHNOLOGY CO.,LTD. (Given by
Official Sources) |
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Unified Social Credit Code |
91320211MA1NL37078 |
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AIC registration No. |
320211000388825 |
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National Organization Code |
MA1NL3707 |
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Company Status |
Operational |
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Executive |
Ji Bin |
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Registered Capital |
CNY 1,000,000.00 |
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Date of Establishment |
2017-03-20 |
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Company Size |
Microenterprise |
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SIC (China) |
5179,Wholesale of Other Mechanical Equipment and
Electronic Products |
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Import and Export Enterprise Code |
3200MA1NL3707 |
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Import/Export Permit |
Yes |
CONTACTS
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Mobile |
(86)13921159896 |
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Address |
Room 6-901, Xin'gang Building, Xingchuang First Road, Wuxi
New Area, Wuxi City, Jiangsu Province(Office) |
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Address Post code |
214028 |
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Ownership |
Rented |
GENERAL COMMENTS
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RISK ANALYSIS |
|
Established in Mar. 2017 with registered capital of CNY
1,000,000.00, SC is mainly engaged in sales of industrial automatic
equipment, etc. Due to the short history, its industry experience is limited.
Invested by natural individual, subject has poor financing capacity and
risk-resisting capacity. The company's development prospect is undetermined.
As SC was newly established in Mar. 2017, its financial information is unavailable
through all available channels. Subject’s staff was contacted but declined to
provide relevant financial information. Hence, no financial information is
provided in the report and credit limit cannot be given without financials. |
REGISTRATION
INFORMATION
REGISTRATION INFORMATION
|
Unified Social Credit Code |
91320211MA1NL37078 |
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AIC registration No. |
320211000388825 |
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Date of Establishment |
2017-03-20 |
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Registered Address |
508, No.21, Beilei New Village, Binhu Dist, Wuxi City |
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Registry |
Market Supervision Administration - Binhu Dist, Wuxi City |
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Legal Representative |
Ji Bin |
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Legal Form |
Limited Liabilities Company |
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Registered Capital |
CNY 1,000,000.00 |
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Operation duration |
Perpetual |
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Business Scope |
Technology research and development, technology transfer,
technical consultation, technical service, installation and maintenance of
computer hardware and software and auxiliary equipment; Sales of general machinery and accessories, electrical
machinery and equipment, metal materials, rubber products, plastic products,
electronic products, chemical products and raw materials (except hazardous
chemicals), communication equipment (excluding satellite broadcasting and
television ground receiving facilities and launchers), hardware products,
home appliances, lamps, toys, automotive supplies and accessories, knitwear,
textiles and raw materials and paper products; R&D, maintenance of electronic components; Installation and maintenance of electronic products; Installation and sales of automatic monitoring equipment; Self-running and agency of import/export of commodities
and technologies; (Of the above business projects where a permit is
required, permit shall be obtained.) |
REGISTRATION CHANGES
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- |
Date |
Item Changed |
From |
To |
|
1 |
2017-06-15 |
Shareholder |
Ji Bin and Ding Jian |
Ji Bin |
SHAREHOLDER INFORMATION
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- |
Name |
% Ownership |
Capital Contributed |
Currency |
Investment Way |
Paid-in % |
Country |
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1 |
Ji Bin |
100.00 |
1,000,000.00 |
CNY |
Capital |
- |
China |
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Total |
|
100.0 |
1,000,000 |
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ULTIMATE HOLDING
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- |
Ultimate Shareholder |
Investment Way |
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1 |
Ji Bin |
Capital |
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English Name |
Ji Bin |
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Country |
China |
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Type |
Natural Person Shareholder |
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Investment Way |
Capital |
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Note |
Ji Bin -->100.00% WUXI TBS SCIENCE & TECHNOLOGY
CO.,LTD |
No branch information of subject is searched out from
database.
INVESTMENT IN OTHER COMPANIES
No investment information of subject is searched out from
database.
MANAGEMENT
|
Name |
Ji Bin |
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Country |
China |
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Position |
Executive Director; General Manager |
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Gender |
Male |
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Age |
36 |
INVOLVEMENT IN OTHER COMPANIES
No other involvement information of subject's legal
representative is searched out from database.
MANAGEMENT
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- |
Name |
Position |
Gender |
|
1 |
Ji
Bin |
Executive
Director; General Manager |
Male |
DIRECTORS AND SUPERVISORS
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- |
Name |
Position |
Gender |
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1 |
Ji
Bin |
Executive
Director; General Manager |
Male |
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2 |
JUDICIAL
INFORMATION
As of the reporting date, no related record about subject is
found through below sources:
A. Website of China Court Organization;
B. Websites of local courts of subject's location;
C. Websites of major domestic courts;
SUBJECT AS EXECUTED PARTY
As of the reporting date, no related record about subject is
found through below sources:
A. Website of China Court Organization;
B. Websites of local courts of subject's location;
C. Websites of major domestic courts;
D. Judicial information of database.
CIVIL & COMMERCIAL TRIAL PROCESS
As of the reporting date, no related record about subject is
found through below sources:
A. Website of China Court Organization;
B. Websites of local courts of subject's location;
C. Websites of major domestic courts;
D. Judicial information of database.
CIVIL & COMMERCIAL JUDGMENT DOCUMENT
As of the reporting date, no related record about subject is
found through below sources:
A. Website of China Court Organization;
B. Websites of local courts of subject's location;
C. Websites of major domestic courts;
D. Judicial information of database.
ADMINISTRATIVE ILLEGAL RECORDS
As of the reporting date, no related record about subject is
found through below sources:
A. Website of China Court Organization;
B. Websites of local courts of subject's location;
C. Websites of major domestic courts;
D. Judicial information of database.
OPERATION
INFORMATION
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Main Business |
Sales of industrial automatic equipment, etc |
|
Products & Service |
SC is mainly engaged in sales of industrial automatic
equipment, etc., including industrial robots, cutting machines, fan-free
industrial computers, industrial tablet computers, industrial motherboards,
shearing machines, electro-hydraulic servo bending machines, electric bending
machines. |
OPERATION FACILITIES
|
Business Address |
Room 6-901, Xin'gang Building, Xingchuang First Road, Wuxi
New Area, Wuxi City, Jiangsu Province(Office) |
|
Mobile |
(86)13921159896 |
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Post code |
214028 |
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Environment |
Suburb |
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Ownership |
Rented |
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Traffic Condition |
Convenient |
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Region |
Products |
Customer Type |
Number of Customers |
Payment Terms |
Region |
Percentage |
|
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Domestic |
Industrial
robots, cutting machines, fan-free industrial computers, etc. |
Equipment factories, etc |
Over 2 |
Credit payment, immediate payment, etc |
Jiangsu
Province, etc |
100 |
|
|
OTHER INFORMATION |
SC's sales business is wholly developed domestically,
mainly in Jiangsu Province, etc. Due to the short history, its sales network
is being expanded. |
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PURCHASE INFORMATION
|
Region |
Main Products Purchased |
Number of Suppliers |
Payment Terms |
Region |
Percentage |
|
|
Domestic |
Industrial automatic equipment, etc |
Over 2 |
Credit payment, immediate payment, etc |
Jiangsu Province, etc |
100 |
|
|
OTHER INFORMATION |
SC's purchasing business is mainly developed in Jiangsu
Province, etc. Its suppliers are mainly manufacturers and traders of
industrial equipment, etc. |
|||||
|
- |
Name |
Legal
Form |
Country |
|
1 |
NANJING
ESTUN AUTOMATION CO., LTD |
Shares
Limited Company (Public Listed) |
China |
|
Name (English) |
NANJING ESTUN AUTOMATION CO., LTD |
|
Country |
|
|
Legal
Form |
Shares
Limited Company (Public Listed) |
|
Note |
SC's
staff confirmed NANJING ESTUN AUTOMATION CO., LTD is one of its suppliers.
Mr. Guo of NANJING ESTUN AUTOMATION CO., LTD contacted through the Mobile
"(86)15850600813" stated the company has many customers and he did
not know whether Subject is its customer or not. Please be noted. |
ELECTRICITY
CONSUMPTION RECORD
No
electricity consumption record of subject can be obtained as the electricity
consumer may not be filed with subject's name.
QUALIFICATIONS & TRENDS
|
EXPORT/IMPORT
PERMIT |
Yes |
EMPLOYEE
|
OTHER
INFORMATION |
Subject's
staff refused to disclose the company's employee number and no relevant
information was obtained from official or public channels. Hence the
company’s employee number cannot be provided in the report. |
Ø ABNORMAL TAX PAYER
As of
the reporting date, no related record about subject is found through below
sources:
A.
Website of Tax Bureau of China;
B.
Website of local Tax Bureau of subject's location;
C.
Taxpayer information of database.
Ø TAX ARREARS LIST
As of
the reporting date, no related record about subject is found through below
sources:
A.
Website of Tax Bureau of China;
B.
Website of local Tax Bureau of subject's location;
C.
Taxpayer information of database.
Ø DEBT ARREARS LIST
As of
the reporting date, no related record about subject is found through below
sources:
A.
Major telecommunication operators of China;
B.
Telecommunication information of database.
FINANCIAL INFORMATION
FINANCIALS
& ANALYSIS
|
Financial
Note |
As
SC was newly established in Mar. 2017, its financial information is
unavailable through all available channels. Subject’s staff was contacted but
declined to provide relevant financial information. Hence, no financial
information is provided in the report. |
INDUSTRY INFORMATION
INDUSTRY CODE
|
SIC (China) |
5179,Wholesale of Other Mechanical Equipment and
Electronic Products 【Major】 |
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ISIC |
4652,Wholesale of electronic and telecommunications
equipment and parts |
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NACE |
46.52,Wholesale of electronic and telecommunications
equipment and parts |
FOREIGN EXCHANGE RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
INR 67.22 |
|
|
1 |
INR 90.88 |
|
Euro |
1 |
INR 80.99 |
|
CNY |
1 |
INR 10.65 |
Note :
Above are approximate rates obtained from sources believed to be correct
INFORMATION DETAILS
|
Analysis Done by
: |
PRI |
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|
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Report Prepared
by : |
KET |
RATING EXPLANATIONS
|
Credit Rating |
Explanation |
Rating Comments |
|
A++ |
Minimum Risk |
Business dealings permissible with minimum
risk of default |
|
A+ |
Low Risk |
Business dealings permissible with low
risk of default |
|
A |
Acceptable Risk |
Business dealings permissible with
moderate risk of default |
|
B |
Medium Risk |
Business dealings permissible on a regular
monitoring basis |
|
C |
Medium High Risk |
Business dealings permissible preferably
on secured basis |
|
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.