MIRA INFORM REPORT

Report No. :	509719
Report Date :	21.05.2018

IDENTIFICATION DETAILS

Name :	ZHUHAI PRINT-RITE NEW MATERIALS CORPORATION LIMITED
Registered Office :	Tianran Baojie Plant 1, Area 47, Zhuhai Free Trade Zone
Country :	China
Financials (as on) :	31.12.2017
Date of Incorporation :	18.11.2004
Unified Social Credit Code :	914404007684484438
Legal Form :	Shares Limited Company (Unlisted)
Line of Business :	Subject is mainly engaged in R&D, production and sales of inkjet ink, etc. The products are desktop printing ink, photo studio ink, outdoor and indoor advertising printing ink, architectural decoration ink, special application ink, textile printing ink and they are widely used in office, building, textile
No. of Employees :	293 (compound)

RATING & COMMENTS

(Mira Inform has adopted New Rating mechanism w.e.f. 23^rd January 2017)

MIRA’s Rating :

A

Credit Rating	Explanation	Rating Comments
A	Acceptable Risk	Business dealings permissible with moderate risk of default

Status :	Satisfactory
Payment Behaviour :	No Complaints
Litigation :	Exist

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)
China	A2	A2

Risk Category	ECGC Classification
Insignificant	A1
Low Risk	A2
Moderately Low Risk	B1
Moderate Risk	B2
Moderately High Risk	C1
High Risk	C2
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.

Source : CIA

INVESTIGATION RECORD

Name of Interviewee	Ms. He
Tel	(86 756) 8687768
Investigation Way	Telephone

ORDER DETAILS & INVESTIGATION RESULTS

-	Order Information	Verification
Name(English)	Zhuhai Print Rite New Materials Corporation Limited	Inaccurate
Address (English)	NO. 47, ZHUHAI FREE TRADE ZONE GD	Incomplete

ABSTRACT

BASIC INFORMATION

Name (English)	ZHUHAI PRINT-RITE NEW MATERIALS CORPORATION LIMITED (Given by Official Sources)
Unified Social Credit Code	914404007684484438
AIC registration No.	440400400005464
National Organization Code	768448443
Company Status	Operational
Executive	He Liangmei
Registered Capital	CNY 30,061,793.00
Date of Establishment	2004-11-18
Employee	293 (compound)
Website	www.printrite-nm.com
Company Size	Small
Stock Code	839210
SIC (China)	2642,Production of Printing Ink & Similar Products
Import and Export Enterprise Code	4404768448443
Import/Export Permit	Yes
Judicial Records	7

CONTACTS

Tel	(86 756)8687768
Fax	(86 756)8687769
Address	Tianran Baojie Plant 1, Area 47, Free Trade Zone, Zhuhai City, Guangdong Province(Office; Plant)
Address Post code	519030
Ownership	Owned

GENERAL COMMENTS

RISK ANALYSIS

Established in Nov. 2004 with the registered capital of CNY 30,061,793.00, subject is mainly engaged in R&D, production and sales of inkjet ink, etc. With long history, the company has accumulated rich industry experience, and its products enjoy certain popularity in the industry. According to subject's current financial information, its operation status is good.

According to subject's current financial information, its operating income of 2017 increases over that of 2016, indicating its business was developed well in 2017. SC's net profit margin of 2017 is high, indicating its profitability is good. The company's turnover of total assets and turnover of current assets of 2017 increase over those of 2016, which reflects its asset operation capacity is improved. SC's turnover of account receivable of 2017 decreases from that of 2016, indicating subject's account recovery ability needs to be improved. As a whole, with low liabilities to assets ratio and high current ratio and quick ratio of 2017, subject has good overall solvency.

REGISTRATION INFORMATION

REGISTRATION INFORMATION

Unified Social Credit Code	914404007684484438
AIC registration No.	440400400005464
Date of Establishment	2004-11-18
Registered Address	Tianran Baojie Plant 1, Area 47, Zhuhai Free Trade Zone
Registry	Administration Bureau for Industry and Commerce – Zhuhai City
Legal Representative	He Liangmei
Legal Form	Shares Limited Company (Unlisted)
Registered Capital	CNY 30,061,793.00
Paid-in Capital	CNY 30,061,793.00
Latest Year of Annual Report	2015
Operation duration	2019-11-18
Business Scope	Production and sales of self-produced printer consumables and accessories, ink products, and carbon powder products; Wholesale, retail, commission agents (except auction) and import and export business of same products of the afore-mentioned products; Warehousing business

REGISTRATION CHANGES

-	Date	Item Changed	From	To
1	2017-12-01	Registered capital	CNY18,788,621.00	CNY30,061,793.00
2	2016-07-15	Registered capital	CNY15,898,621.00	CNY18,788,621.00
3	2016-05-26	Name	Zhuhai Free Trade Zone Tianran Baojie Digital Science and Technology Materials Co., Ltd	ZHUHAI PRINT-RITE NEW MATERIALS CORPORATION LIMITED
4	2016-05-26	Legal representative	Feng Baozhen	He Liangmei
5	2016-05-26	Registered capital	CNY15,757,576.00	CNY15,898,621.00
6	2016-01-21	Registered capital	HKD15,600,000.00	CNY15,757,576.00
7	2009-05-20	Legal representative	Ke Peizhen	Feng Baozhen
8	2008-04-07	Legal representative	Li Wenliang	Ke Peizhen
9	2006-04-25	Legal representative	Huang Dawei	Li Wenliang

SHAREHOLDER INFORMATION

-	Name	% Ownership	Capital Contributed	Currency	Investment Way	Paid-in %	Country
1	JET SPEED INTERNATIONAL LIMITED	83.77	25,183,416.00	CNY	Capital	100	Hong Kong
2	Zhuhai Print-rite Xingye Management Consulting Co., Ltd.	15.75	4,734,377.00	CNY	Capital	100	China
3	Zhuhai Xiaomayi Investment Partnership ( Limited Partnership)	0.48	144,000.00	CNY	Capital	100	China
Total		100.0	30,061,793

OTHER INFORMATION

OTHER INFORMATION

Subject was listed in National Equities Exchange and Quotations, and its shareholder information as of 2017-12-31 is provided in this report for reference.

ENTITY SHAREHOLDER

Name (English)	JET SPEED INTERNATIONAL LIMITED
Country	Hong Kong
Unified Social Credit Code	0803663
Date of Establishment	2002-06-26
Status	Operational

Name (English)	Zhuhai Print-rite Xingye Management Consulting Co., Ltd.
Country	China
Legal Representative	Yao Mingjue
Registration No.	440003000125691
Unified Social Credit Code	91440400MA4UK91NXF
Date of Establishment	2015-12-01
Legal Form	Limited Liabilities Company (Sino-Foreign Joint Venture)
Registered Capital	CNY 14,000,000.00
Status	Operational
Registered Address	Room 105-9706, No. 6 Baohua Road, Hengqin New Dist, Zhuhai City

Name (English)	Zhuhai Xiaomayi Investment Partnership ( Limited Partnership)
Country	China
Registration No.	440405000004431
Unified Social Credit Code	91440400MA4UQCF28M
Date of Establishment	2016-06-06
Legal Form	Limited Partnership
Status	Operational
Registered Address	Room 502, Building 3, No. 5 Gangsan Road, Xiangzhou Dist, Zhuhai City

ULTIMATE HOLDING

-	Ultimate Shareholder	Investment Way
1	JET SPEED INTERNATIONAL LIMITED	Capital

English Name	JET SPEED INTERNATIONAL LIMITED
Country	Hong Kong
Type	Legal entity shareholder
Investment Way	Capital
Note	JET SPEED INTERNATIONAL LIMITED -->83.77% ZHUHAI PRINT-RITE NEW MATERIALS CORPORATION LIMITED

BRANCHES

No branch information of subject is searched out from database.

INVESTMENT IN OTHER COMPANIES

-	Name	License Status	Share Holding	Currency	% Ownership
1	XIN WEI IMAGING (SHANGHAI) CO.,LTD.	Operational	1,655,400.00	CNY	100.00%

Name (English)	XIN WEI IMAGING (SHANGHAI) CO.,LTD.
Unified Social Credit Code	91310115738525559X
License Status	Operational
Registration No.	310115400095287
Name Of Legal Representative	Zhang Xiping
Legal Form	Limited Liabilities Company
Country	China
Registered Capital	CNY 1,655,400.00
Type	Subsidiary
Date of Establishment	2002-05-23
Share Holding	1,655,400.00
Currency	CNY
Way of Investment	Capital
% Ownership	100.00%

MANAGEMENT

LEGAL REPRESENTATIVE

Name	He Liangmei
Position	Chairman
Gender	Male

INVOLVEMENT IN OTHER COMPANIES

-	Name (English)	License Status	Legal Representative	Position	Type of Engagement
1	Shenzhen Tianchuang Weixin Technology Development Co., Ltd.	Operational	NO	Director	Directorship
2	XIN WEI IMAGING (SHANGHAI) CO.,LTD.	Operational	NO	Director	Directorship

Name (English)	Shenzhen Tianchuang Weixin Technology Development Co., Ltd.
License Status	Operational
Name Of Legal Representative	Feng Yuzhen
Registered Capital	CNY 1,500,000.00
Country	China
Registration No.	440301115895231
Unified Social Credit Code	91440300MA5DBBL52K
Legal Form	Limited Liabilities Company
Position	Director
Date of Establishment	2016-04-25

Name (English)	XIN WEI IMAGING (SHANGHAI) CO.,LTD.
License Status	Operational
Name Of Legal Representative	Zhang Xiping
Registered Capital	CNY 1,655,400.00
Country	China
Registration No.	310115400095287
Unified Social Credit Code	91310115738525559X
Legal Form	Limited Liabilities Company
Position	Director
Date of Establishment	2002-05-23

MANAGEMENT

-	Name	Position	Gender
1	He Liangmei	Chairman	Male
2	Tian Yongzhong	Director; General manager	Male

DIRECTORS AND SUPERVISORS

-	Name	Position	Gender
1	He Liangmei	Chairman	Male
2	Zhang Tao	Director	Male
3	Xu Yingchun	Director	Male
4	Zhou Guowei	Director	Male
5	Lin Haiying	Supervisor	Female
6	Li Shufeng	Supervisor	Male
7	Tian Yongzhong	Director; General manager	Male
8	Li Xingyao	Chairman of the Supervisory Committee	Male

JUDICIAL INFORMATION

DEFAULT 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.

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

Name	ZHUHAI PRINT-RITE NEW MATERIALS CORPORATION LIMITED
Government ID. / AIC Registration No.	914404007684484438
File No.	(2017) YUE Min Zhong 581
Position	Appellor
Hearing Court	Higher People’s Court of Guangdong Province
Date Type	Filing Date
Date	2017-03-22
Cause	Infringement of patent right in design

Name	Zhuhai Free Trade Zone Tianran Baojie Digital Science and Technology Materials Co., Ltd
Government ID. / AIC Registration No.	914404007684484438
File No.	(2016) YUE 04 Min Chu 17
Position	Party Involved
Hearing Court	Intermediate People’s Court of Zhuhai City, Guangdong Province
Date Type	Trial Date
Date	2016-06-27

Name	Zhuhai Free Trade Zone Tianran Baojie Digital Science and Technology Materials Co., Ltd
Government ID. / AIC Registration No.	914404007684484438
File No.	(2016) YUE 04 Min Chu 17
Position	Plaintiff
Hearing Court	Intermediate People’s Court of Zhuhai City, Guangdong Province
Date Type	Filing Date
Date	2016-03-02
Cause	Infringement of patent right in design

Name	Zhuhai Free Trade Zone Tianran Baojie Digital Science and Technology Materials Co., Ltd
Government ID. / AIC Registration No.	914404007684484438
Position	Plaintiff
Hearing Court	Intermediate People’s Court of Zhuhai City, Guangdong Province
Date Type	Filing Date
Date	2016-03-02
Cause	Infringement of patent right in design

Name	Zhuhai Free Trade Zone Tianran Baojie Digital Science and Technology Materials Co., Ltd
Government ID. / AIC Registration No.	914404007684484438
File No.	(2014) ZHU Zhong Fa Zhi Min Chu Zi 37
Position	Plaintiff
Hearing Court	Intermediate People’s Court of Zhuhai City, Guangdong Province
Date Type	Filing Date
Date	2014-01-13
Cause	Infringement of patent right in design

CIVIL & COMMERCIAL JUDGMENT DOCUMENT

Name	ZHUHAI PRINT-RITE NEW MATERIALS CORPORATION LIMITED
File No.	(2017) YUE Min Zhong 581
Hearing Court	Higher People’s Court of Guangdong Province
Court Type	Higher People's Court
Cause of Action	Infringement of patent rights for inventions
Value	500,000.0000
Position	Appellor
Date of Closing	2018-03-13

Name	Zhuhai Free Trade Zone Tianran Baojie Digital Science and Technology Materials Co., Ltd
Government ID. / AIC Registration No.	914404007684484438
File No.	(2014) YUE Gao Fa Min San Zhong Zi 678
Hearing Court	Higher People’s Court of Guangdong Province
Court Type	Higher People's Court
Cause of Action	Infringement of trademark rights
Plaintiff	Zhuhai Mode Printing Consumables Co., Ltd.
Defendant	Zhuhai Free Trade Zone Tianran Baojie Digital Science and Technology Materials Co., Ltd,Zhuhai Hechuan Electronics Co., Ltd.
Value	0
Position	Appellee
Date of Closing	2015-11-02

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

MAIN BUSINESS

Main Business	R&D, production and sales of inkjet ink, etc.
Products & Service	SC is mainly engaged in R&D, production and sales of inkjet ink, etc. The products are desktop printing ink, photo studio ink, outdoor and indoor advertising printing ink, architectural decoration ink, special application ink, textile printing ink, etc. and they are widely used in office, building, textile, etc.
Production Information	SC has 8 self-built R & D laboratories, 1 printing technology research room, 1 printing test room, Q-sun tester, ink drop observatory, etc. It can process more than 5,000 tons of jet ink per year.
OTHER INFORMATION	SC has been certified with IECQ-HSPM, ISO9001, ISO14001, etc., and it has won titles of Key enterprise technology center of Zhuhai City, Intellectual property advantage enterprise of Zhuhai City, Top 30 private independent innovation enterprises in Zhuhai City, etc.

OPERATION FACILITIES

Business Address	Tianran Baojie Plant 1, Area 47, Free Trade Zone, Zhuhai City, Guangdong Province(Office; Plant)
Tel	(86 756)8687768
Fax	(86 756)8687769
Post code	519030
Environment	Major industrial areas
Net Area	20,000 Square meters
Ownership	Owned
Traffic Condition	Average

SALES INFORMATION

Region	Products		Customer Type	Number of Customers	Payment Terms	Region	Percentage
Domestic	Inkjet ink, etc.		Clients from office, construction, textile and other industries	Over 10	Advance payment, prompt payment, short term credit payment, etc.	All over China	90
International	Inkjet ink, etc.		Clients from office, construction, textile and other industries	Over 10	L/C, T/T, etc.	Indonesia, Columbia, India, Hong Kong, Italy, Ghana and so on.	10
OTHER INFORMATION		The company's products are sold both at home and abroad. The marketing center has sales departments in South China and North China which are responsible for sales business, while large customer sales department is mainly responsible for sales work of foreign customers and important customers. The clients are traders, electronic factories, electrical appliance factories, etc.

MAJOR CUSTOMERS

-	Name	Legal Form	Country
1	PRINT-RITE FANLING TRADING COMPANY LIMITED OF ZHUHAI	Limited Liabilities Company	China

Name (English)	PRINT-RITE FANLING TRADING COMPANY LIMITED OF ZHUHAI
Country	China
Legal Form	Limited Liabilities Company

PURCHASE INFORMATION

Region	Main Products Purchased		Number of Suppliers	Payment Terms	Region	Percentage
Domestic	Chemical raw materials, production equipment, office supplies, etc.		Over 10	Advance payment, prompt payment, short term credit payment, etc.	All over China	80
International	Chemical raw materials, production equipment, etc.		Over 10	L/C, T/T, etc.	The United States, Hong Kong, Taiwan, Korea, Thailand, Germany and so on.	20
OTHER INFORMATION		The company's chemical products, pigments, production and processing equipment are purchased at home and abroad. With years of operation, subject has established stable purchasing channels.

MAJOR SUPPLIERS

-	Name	Legal Form	Country
1	Changzhou Dongqun Chemical Industry Co., Ltd.	Limited Liabilities Company	China
2	SHENZHEN JIRUI CHEMICAL CO.,LTD.	Limited Liabilities Company	China

Name (English)	Changzhou Dongqun Chemical Industry Co., Ltd.
Country	China
Legal Form	Limited Liabilities Company

Name (English)	SHENZHEN JIRUI CHEMICAL CO.,LTD.
Country	China
Legal Form	Limited Liabilities Company

CREDIT RECORDS

-	Supplier Name	Product Supplied	Cooperation Period	Payment History
1	Changzhou Dongqun Chemical Industry Co., Ltd.	Chemical Products	-	Prompt
2	SHENZHEN JIRUI CHEMICAL CO.,LTD.	Chemical raw materials and products	-	Prompt

Name (English)	Changzhou Dongqun Chemical Industry Co., Ltd.
Country	China
Product Supplied	Chemical Products
Payment History	Prompt
Date of Interview	2018-5-18
Name of Interviewee	Mr. Li
Position	Staff
Tel	(86 519) 83608900
Comment	The referee confirmed subject is one of the above company’s clients. Subject made payments in time and its credit status is normal.

Name (English)	SHENZHEN JIRUI CHEMICAL CO.,LTD.
Country	China
Product Supplied	Chemical raw materials and products
Payment History	Prompt
Date of Interview	2018-05-18
Name of Interviewee	Ms. Feng
Position	Staff
Tel	(86 755) 88262688
Comment	The referee confirmed subject is one of the above company’s clients. Subject made payments in time and its credit status is normal.

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

TRADEMARKS

-	Name	Image	Registration No.	International Classification	Country
1	XENIER X		17388972	2	China
2	赛瑞尔		17388973	2	China
3	ETERNITY		6359126	2	China
4	XENIER X		17345494	16	China
5	赛瑞尔		17344579	16	China

PATENT

-	Patent Name	Patent Type	Status	Application No.	Application date	Classification	Publication No.
1	Water-based pigment ink for industrial sprinkler, corrugated cardboard digital printing machine	Invention	Published	CN201710391822.0	2017-05-27	C09D11/30(2014.01)I; C09D11/322(2014.01)I; C09D11/38(2014.01)I	CN107022242A
2	A method for printing 3D stereoscopic patterns on vamp by digital inkjet printing	Invention	Published	CN201710038960.0	2017-01-19	B41J3/407(2006.01)I; B41J2/01(2006.01)I; B41J29/38(2006.01)I	CN106626805A
3	An anti etching ink-jet ink and its application	Invention	Published	CN201610286577.2	2016-04-29	C09D11/40(2014.01)I; H05K3/06(2006.01)I	CN105733361A
4	Sublimation ink for low weight transfer printing paper and printing method thereof	Invention	Published	CN201610130655.X	2016-03-08	C09D11/30(2014.01)I; B41M5/385(2006.01)I	CN105542568A
5	Active ink suitable for industrial head inkjet printer and preparation method thereof	Invention	Published	CN201510144654.6	2015-03-30	C09D11/328(2014.01)I	CN104725936A
6	A kind of ink exchange equipment for wide line ink supply system	Patent for utility models	Approved	CN201520130307.3	2015-03-06	B41J2/175(2006.01)I	CN204547348U
7	UV curable white ink jet ink composition	Invention authorization	Published	CN201410592715.0	2014-10-28	C09D11/322(2014.01)I	CN104263079B
8	A kind of digital printing active ink	Invention	Published	CN201410466471.1	2014-09-15	D06P1/38(2006.01)I; D06P1/673(2006.01)I; D06P1/52(2006.01)I; D06P1/651(2006.01)I; D06P5/30(2006.01)I	CN105442348A
9	UV curable inkjet ink for flexible circuit board identification	Invention	Published	CN201410310879.X	2014-07-01	C09D11/30(2014.01)I	CN104031475A
10	A method of making inkjet ink for leather and printing on leather.	Invention	Published	CN201410160060.X	2014-04-21	C09D11/30(2014.01)I; C09D11/322(2014.01)I; D06P5/30(2006.01)I; D06P3/32(2006.01)I	CN103897492A
11	Sublimation ink for industrial sprinkler and printing method thereof	Invention	Published	CN201410138573.0	2014-04-08	C09D11/02(2014.01)I; C09D11/102(2014.01)I	CN103865319A
12	A disperse dye ink-jet ink and its preparation method	Invention	Published	CN201310743922.7	2013-12-30	C09D11/30(2014.01)I	CN103694795A
13	A kind of pigment ink suitable for hot foaming and printing	Invention	Published	CN201310485221.8	2013-10-16	C09D11/322(2014.01)I; B41F31/08(2006.01)I	CN103525195A
14	Application of diluted monomer in the preparation of low corrosive ink jet ink	Invention	Published	CN201310210244.8	2013-05-30	C09D11/10(2006.01)I; G01N13/00(2006.01)I	CN103242711A
15	Ink bottle	Appearance design	Approved	CN201330064480.4	2013-03-14	09-01	CN302495062S
16	Grinding device and grinding process for grinding heat transfer printing paste	Invention	Published	CN201210476056.5	2012-11-21	B02C17/16(2006.01)I; B02C17/18(2006.01)I	CN102974431A
17	A grinding device for grinding heat transfer color pulp	Patent for utility models	Approved	CN201220621453.2	2012-11-21	B02C17/16(2006.01)I; B02C17/18(2006.01)I	CN202909783U
18	An ink-jet ink composition and its application	Invention	Published	CN201210236421.5	2012-07-09	C09D11/12(2006.01)I	CN102702860A
19	Ink bottle	Appearance design	Approved	CN201130465507.1	2011-12-08	09-01	CN301934400S
20	A modified cotton fiber and its preparation method and Application	Invention	Published	CN201110386384.1	2011-11-28	D06M13/192(2006.01)I; D06M13/392(2006.01)I; D06P1/16(2006.01)I; D06P3/60(2006.01)I; D06P5/26(2006.01)I	CN102493183A

Note: Maximum 20 records are showed for the client’s reference.

AUTHENTICATION INFORMATION

-	Certificate Category	Certificate No.	Issue Date	Expire Date	Status
1	ISO9000	60968-2009-AQ-RGC-UKAS	2017-06-05	2019-06-12	Valid
2	Environmental management system certification	100703-2011-AE-RGC-UKAS	2017-06-05	2020-07-25	Valid
3	Certification of process control management system for hazardous substances in electrical and electronic components and products	PRC-HSPM-1678	2015-06-08	2018-11-04	Valid

EXPORT/IMPORT PERMIT

EXPORT/IMPORT PERMIT

Yes

IMPORT / EXPORT DETAILS

2016 Import / Export Volume (USD 1,000)
Import Volume	Export Volume
750	2,095

2016 Importing Regions (USD 1,000)
Importing Regions	Import Volume
U.S.A	402
Hong Kong	66
Taiwan	79
Korea	80
Thailand	44
Germany	64

2016 Exporting Regions (USD 1,000)
Exporting Regions	Export Volume
Indonesia	883
Colombia	243
India	262
Hong Kong	104
Italy	33
Ghana	72

2016 Imported Products (USD 1,000)
Imported Products	Import Volume
Other packing machines	60
Other	7
Acid dyes, whether or not premetallized, and preparations based thereon; mordant dyes and preparations based thereon	400
Inkjetprinters	1
Acid dyes, whether or not premetallized, and preparations based thereon; mordant dyes and preparations based thereon	218
Inkjet printing machines	64

2016 Exported Products (USD 1,000)
Exported Products	Export Volume
Other	12
Other	7
Acid dyes, whether or not premetallized, and preparations based thereon; mordant dyes and preparations based thereon	61
Writing or drawing ink and other inks, whether or not con centrated or solid	954
Other selfadhesive plates, sheets, film, foil, tape, strip and other flat shapes, of plastics, whether or not in rolls	4
Writing or drawing ink and other inks, whether or not con centrated or solid	1,035
Acid dyes, whether or not premetallized, and preparations based thereon; mordant dyes and preparations based thereon	10
Inkjetprinters	6
Other	4
Other	2

2015 Import / Export Volume (USD 1,000)
Import Volume	Export Volume
1,488	1,786

2015 Importing Regions (USD 1,000)
Importing Regions	Import Volume
U.S.A	1,136
Korea	135
Germany	41
Taiwan	97
UK	38
Other	44

2015 Exporting Regions (USD 1,000)
Exporting Regions	Export Volume
Indonesia	781
Colombia	157
India	156
Ghana	98
United Arab Emirates	104
Other	489

2015 Imported Products (USD 1,000)
Imported Products	Import Volume
Acid dyes, whether or not premetallized, and preparations based thereon; mordant dyes and preparations based thereon	1,444
Other	3
Compounds containing in the structure a benzothiazole ringsystem (whether or not hydrogenated), not further fused	38
Inkjetprinters	1
Pigments and preparations based thereon	6

2015 Exported Products (USD 1,000)
Exported Products	Export Volume
Writing or drawing ink and other inks, whether or not con centrated or solid	1,751
Other	15
Syringes, with or without needles	5
Folding cartons, boxes and cases, of noncorrugated paper or paperboard	5
Other	7
Calendars of any kind, printed, including calendar blocks	3

EMPLOYEE

Employee Number	293 (compound)
OTHER INFORMATION	The above number of employees is obtained from subject's annual report of 2017.

WEBSITES

-	Website	Name	File No	Registrant
1	www.printrite-nm.com	ZHUHAI PRINT-RITE NEW MATERIALS CORPORATION LIMITED	Yue ICP 12047242-2	-

Website	www.printrite-nm.com
Country	China
Status	Operational
Name	ZHUHAI PRINT-RITE NEW MATERIALS CORPORATION LIMITED
Sponsor Name	ZHUHAI PRINT-RITE NEW MATERIALS CORPORATION LIMITED
Hosted By	Enterprise
Type	Official Website
File No.	Yue ICP 12047242-2
Source	Ministry of Industry and Information Technology

ADMINISTRATIVE INFORMATION

ABNORMAL TAX PAYER

Tax Payer	Zhuhai Free Trade Zone Tianran Baojie Digital Science and Technology Materials Co., Ltd
Authority / Information Source	State Administration of Taxation - Zhuhai City
Taxes Owed	Corporate income tax
Value	0
Date	2010-04-21

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.

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.

PUBLIC LISTED INFORMATION / ISSUED BONDS INFORMATION

Stock Exchange / Bonds Issuing Place	National Equities Exchange and Quotations
Stock Code	839210
Date of Listing / Issuing	2018-05-18
Status	Normal

FINANCIAL INFORMATION

DETAILED FINANCIAL INFORMATION (UNIT: CNY 1,000)

Financial Note: Due to the lack of a clear government policy regarding the transparency of enterprise financial information, some financial items might be missing in the financial statements, causing possible inequality between the sum of the provided items and the provided total numbers.

Assets
Year	2015-12-31	2016-12-31	2017-12-31
Report Type	Annual Report	Annual Report	Annual Report
Statement Type	Consolidated	Consolidated	Consolidated
Source	Public Source	Public Source	Public Source
Audited or Not	Yes	Yes	Yes
Auditing Institution	Ruihua Certified Public Accountants (Special General Partnership)	Ruihua Certified Public Accountants (Special General Partnership)	Ruihua Certified Public Accountants (Special General Partnership)
Cash and Equivalents	32,779	29,546	20,455
Notes Receivable	408	670	616
Accounts receivable	17,795	29,871	47,702
Advances to Suppliers	1,710	1,718	1,650
Other Accounts Receivable	700	524	550
Inventories	17,179	21,610	39,068
Other Current Assets	295	-	454
Total Current Assets	70,866	83,939	110,495
Net Fixed Assets	22,987	23,312	-
Fixed Assets Depreciation Reserves	0	0	-
Fixed Assets	22,987	23,312	45,085
Project Being Constructed	3,570	9,796	519
Intangible Asset	3,859	3,930	3,787
Long-term fees to be deferred	1,098	1,047	-
Deferred Income Tax Assets	826	1,073	1,499
Other Non-Current Assets	-	-	1,775
Total Non-Current Assets	32,340	39,158	52,665
Total Assets	103,206	123,097	163,160

Liabilities
Year	2015-12-31	2016-12-31	2017-12-31
Accounts Payable	8,853	8,418	25,589
Advances from Customers	335	551	1,644
Accrued Payroll	3,438	4,677	6,472
Taxes Payable	1,181	1,769	1,119
Dividend Payable	17,340	-	-
Other Account Payable	1,672	1,244	3,069
Other Current Liabilities	917	917	917
Total Current Liabilities	33,736	17,576	38,810
Anticipation Liabilities	-	-	4,087
Total Non-Current Liabilities	0	0	4,087
Total Liabilities	33,736	17,576	42,897
Share Capital (Paid-in Capital)	15,765	18,789	30,062
Capital Reserve	-	70,377	61,319
Surplus Reserve	7,815	2,097	4,182
Undistributed Profits	45,890	14,258	24,700
Shareholders' Equity Attributable To The Parent Company	69,470	105,520	-
Total Owner’s Equity	69,470	105,521	120,263
Total Liabilities and Owner's Equity	103,206	123,097	163,160

Income Statement
Year	2015-12-31	2016-12-31	2017-12-31
Operating Income	123,460	154,925	216,319
Operating Cost	83,182	101,196	137,547
Tax and Associate Charge	893	982	1,693
Operating Gross Profit	39,385	52,747	77,079
Other Business Income	-	-	2,019
Operating Expenses	5,236	10,576	17,206
Administrative Expenses	17,950	21,314	26,046
Financial Expenses	-474	-463	918
Assets Impairment Loss	472	377	1,691
Operating Profit	16,201	20,943	33,237
Non-operating Income	4,849	4,651	319
Non-operating Expenses	102	225	539
Total Profit	20,948	25,369	33,017
Income Tax	3,237	3,879	5,173
Net Profit	17,711	21,490	27,844

GROWTH RATE OF MAJOR FINANCIAL

	2015	Growth(%)	2016	Growth(%)	2017
Operating Income	123,460	25.49	154,925	39.63	216,319
Total Assets	103,206	19.27	123,097	32.55	163,160
Working Capital	37,130	78.73	66,363	8.02	71,685
Total Profit	20,948	21.10	25,369	30.15	33,017
Net Profit	17,711	21.34	21,490	29.57	27,844
Total Liabilities	33,736	-47.90	17,576	144.07	42,897
Total Owner’s Equity	69,470	51.89	105,521	13.97	120,263
Total Current Assets	70,866	18.45	83,939	31.64	110,495
Total Current Liabilities	33,736	-47.90	17,576	120.81	38,810
Fixed Assets	22,987	1.41	23,312	93.40	45,085

IMPORTANT RATIO

Profitability	2015	2016	2017
Return on net assets (%)	25.49	20.37	23.15
Return on total assets (%)	17.16	17.46	17.07
Net profit margin (%)	14.35	13.87	12.87
Gross Profit Margin (%)	31.90	34.05	35.63
Operation capacity	2015	2016	2017
Turnover of total assets	1.20	1.26	1.33
Turnover of current assets	1.74	1.85	1.96
Turnover of account receivable	6.94	5.19	4.53
Turnover Days of Accounts Receivable	51.89	69.41	79.39
Solvency	2015	2016	2017
Liabilities to assets ratio (%)	32.69	14.28	26.29
Current ratio	2.10	4.78	2.85
Quick ratio	1.59	3.55	1.84
Development capacity	2015	2016	2017
Yearly Growth of Operating Income (%)	-	25.49	39.63
Yearly growth of gross profit (%)	-	33.93	46.13
Yearly growth of total assets (%)	-	19.27	32.55

FINANCIALS & ANALYSIS

Financial Note

1. SC's paid-up capitals of 2015, 2016 and 2017 are inconsistent with each other due to the registered capital changes. SC's registered capital has been fully invested up to the end of this investigation. 2. SC's paid-up capitals of 2016 and 2017 are inconsistent with registered capitals of 2016 and 2017 respectively due to the rounding numbers.

INDUSTRY INFORMATION

INDUSTRY CODE

SIC (China)	2642,Production of Printing Ink & Similar Products 【Major】
ISIC	2022,Manufacture of paints, varnishes and similar coatings, printing ink and mastics
NACE	20.3,Manufacture of paints, varnishes and similar coatings, printing ink and mastics

INDUSTRY FINANCIAL AVERAGE

-	2015	Subject	Best(10%)	Average	Worst(10%)
Solvency	Liabilities to Assets Ratio (%)	32.69	45	54	76.50
	Current ratio	2.10	2.53	1.29	0.69
	Quick ratio	1.59	1.58	0.81	0.44
Development Capacity	Yearly Growth of Operating Income (%)	-	19.71	4.03	-14.67
	Yearly Growth of Gross Profit (%)	-	20.05	6.61	-12.24
	Yearly Growth of Total Assets (%)	-	17.92	3.36	-15.48
Profitability	Return on net assets (%)	25.49	16.24	3.14	-9.63
	Return on total assets (%)	17.16	9.18	2.58	-4.23
	Gross profit margin (%)	31.90	25.20	10.53	-2.43
Operation Capacity	Turnover of total assets	1.20	1.57	0.67	0.11
	Turnover of current assets	1.74	3.36	1.68	0.22
	Turnover days of account receivable	51.89	17.42	36.41	294.54

-	2016	Subject	Best(10%)	Average	Worst(10%)
Solvency	Liabilities to Assets Ratio (%)	14.28	44.10	52.38	78.80
	Current ratio	4.78	2.48	1.25	0.72
	Quick ratio	3.55	1.55	0.78	0.45
Development Capacity	Yearly Growth of Operating Income (%)	25.49	19.32	3.91	-15.11
	Yearly Growth of Gross Profit (%)	33.93	19.65	6.41	-12.61
	Yearly Growth of Total Assets (%)	19.27	17.56	3.26	-15.94
Profitability	Return on net assets (%)	20.37	15.92	3.04	-9.92
	Return on total assets (%)	17.46	9.00	2.50	-4.36
	Gross profit margin (%)	34.05	24.70	10.21	-2.50
Operation Capacity	Turnover of total assets	1.26	1.54	0.65	0.12
	Turnover of current assets	1.85	3.29	1.63	0.23
	Turnover days of account receivable	69.41	17.07	35.31	303.38

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 67.96
UK Pound	1	INR 91.88
Euro	1	INR 80.28
CNY	1	INR 10.65

Note : Above are approximate rates obtained from sources believed to be correct

INFORMATION DETAILS

Analysis Done by :	NIY
Report Prepared by :	SYL

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
NB	New Business	No recommendation can be done due to business in infancy stage
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)

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This report is issued at your request without any risk and responsibility on the part of MIRA INFORM PRIVATE LIMITED (MIPL) or its officials.