MIRA INFORM REPORT

Report No. :	510062
Report Date :	24.05.2018

IDENTIFICATION DETAILS

Name :	WINTIME IMPORT & EXPORT TRADING LIMITED OF ZHONGSHAN
Registered Office :	(404, Floor 4) Qianzuo, No. 23, Nan'an Road, Shiqi Dist, Zhongshan City
Country :	China
Financials (as on) :	31.12.2017
Date of Incorporation :	26.10.2007
Unified Social Credit Code :	914420006681830114
Legal Form :	Limited Liabilities Company
Line of Business :	Subject is mainly engaged in import and export agent. The company mainly provides goods export customs declaration, agent of handling letter of credit, agent of handling certificate of origin, exhibition and training, visa, export tax rebate, foreign exchange cancellation, foreign exchange settlement, booking, contacting transportation for customers, agent insurance and so on.
No. of Employees :	200

RATING & COMMENTS

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

MIRA’s Rating :

B

Credit Rating	Explanation	Rating Comments
B	Medium Risk	Business dealings permissible on a regular monitoring basis

Status :	Moderate
Payment Behaviour :	Slow but correct
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

ORDER DETAILS & INVESTIGATION RESULTS

-	Order Information	Verification
Name(English)	WINTIME IMPORT & EXPORT TRADING LIMITED OF ZHONGSHAN	Correct
Address (English)	A1, Third Gloor, No. 23, Nan An Road, Shiqi Zhongshan Guangdong	Inaccurate. SC's staff confirmed the whole Qianzuo Xinda Mansion is the office of SC.
Mobile	86-139 2910 8987	The given phone number does not belong to SC.

ABSTRACT

BASIC INFORMATION

Name (English)	WINTIME IMPORT & EXPORT TRADING LIMITED OF ZHONGSHAN
Unified Social Credit Code	914420006681830114
AIC registration No.	442000000048258
National Organization Code	668183011
Company Status	Operational
Executive	Huang Zhizhong
Registered Capital	CNY 1,000,000.00
Date of Establishment	2007-10-26
Employee	200
Website	www.chinawintime.com
Company Size	Large
SIC (China)	5181,Trade Agent
Import and Export Enterprise Code	4400668183011
Import/Export Permit	Yes
Judicial Records	5

CONTACTS

Tel	(86 760)88800988
Address	Qianzuo Xinda Mansion, No. 23, Nan'an Road, Shiqi Dist, Zhongshan City, Guangdong Province(Office)
Address Post code	528400
Ownership	N/A

GENERAL COMMENTS

RISK ANALYSIS

Established in October of 2007 with the registered capital of CNY 1,000,000.00, SC is mainly engaged in import and export agent. With years of operation, the company has certain industry experience and average financing and risk resisting capacities.

According to its current financial information, SC’s operating income of 2017 decreased greatly from that of 2016, indicating its business was developed poorly in 2017. The company turned from profit to loss in 2017, showing subject’s profitability is weak and remains to be improved. The company’s turnover of total assets of 2017 is high, indicating its assets operation capability is good. As a whole, with high liabilities to assets ratio of 2017, subject’s long-term solvency is weak.

REGISTRATION INFORMATION

Unified Social Credit Code	914420006681830114
AIC registration No.	442000000048258
Date of Establishment	2007-10-26
Registered Address	(404, Floor 4) Qianzuo, No. 23, Nan'an Road, Shiqi Dist, Zhongshan City
Registry	Administration Bureau of Industry and Commerce - Zhongshan City, Guangdong Province
Legal Representative	Huang Zhizhong
Legal Form	Limited Liabilities Company
Registered Capital	CNY 1,000,000.00
Paid-in Capital	CNY 1,000,000.00
Latest Year of Annual Report	2017
Operation duration	Perpetual
Business Scope	Import and export of goods and technologies; Purchase of agricultural by-products; Sales of stationery, electrical appliances, speakers, daily necessities, hardware, electricity, building materials, cosmetics; Wholesales of publication

REGISTRATION CHANGES

-	Date	Item Changed	From	To
1	2017-06-16	Registered address	Floor 4-1, Qianzuo, No. 23, Nan'an Road, Shiqi Dist, Zhongshan City	(404, Floor 4) Qianzuo, No. 23, Nan'an Road, Shiqi Dist, Zhongshan City

SHAREHOLDER INFORMATION

-	Name	% Ownership	Capital Contributed	Currency	Investment Way	Paid-in %	Country
1	Huang Zhizhong	88.00	880,000.00	CNY	Capital	100	China
2	Zhongshan Mingda Management Consulting Co., Ltd.	12.00	120,000.00	CNY	Capital	100	China
Total		100.0	1,000,000

ENTITY SHAREHOLDER

Name (English)	Zhongshan Mingda Management Consulting Co., Ltd.
Country	China
Legal Representative	Huang Zhizhong
Registration No.	442000000545370
Unified Social Credit Code	91442000586392995X
Date of Establishment	2011-12-08
Legal Form	Limited Liabilities Company
Registered Capital	CNY 300,000.00
Status	Operational
Registered Address	(201, Floor 2) Qianzuo, No. 23, Nan'an Road, Shiqi Dist, Zhongshan City

ULTIMATE HOLDING

-	Ultimate Shareholder	Investment Way
1	Huang Zhizhong	Capital

English Name	Huang Zhizhong
Country	China
Type	Natural person shareholder
Investment Way	Capital
Note	Huang Zhizhong -->88.00% WINTIME IMPORT & EXPORT TRADING LIMITED OF ZHONGSHAN

BRANCHES

No branch information of subject is searched out from database.

INVESTMENT IN OTHER COMPANIES

-	Name	License Status	Share Holding	Currency	% Ownership
1	SUNTIME IMPORT AND EXPORT TRADING LIMITED OF ZHONGSHAN	Operational	270,000.00	CNY	90.00%

Name (English)	SUNTIME IMPORT AND EXPORT TRADING LIMITED OF ZHONGSHAN
Unified Social Credit Code	91442000559174896H
License Status	Operational
Registration No.	442000000362966
Name Of Legal Representative	Li Renfei
Legal Form	Limited Liabilities Company
Country	China
Registered Capital	CNY 300,000.00
Type	Subsidiary
Date of Establishment	2010-08-04
Share Holding	270,000.00
Currency	CNY
Way of Investment	Capital
% Ownership	90.00%

MANAGEMENT

LEGAL REPRESENTATIVE

Name	Huang Zhizhong
Country	China
Position	Executive Director; General Manager
Gender	Male
Age	51

INVOLVEMENT IN OTHER COMPANIES

-	Name (English)	License Status	Legal Representative	Position	Type of Engagement
1	SUNTIME IMPORT AND EXPORT TRADING LIMITED OF ZHONGSHAN	Operational	NO	Executive director	Directorship
2	Zhongshan Jinjian Customs Declaration Service Co., Ltd.	Operational	NO	Executive director	Directorship; Investment(50.00%)
3	KINGDA IMPORT & EXPORT TRADING LIMITED OF ZHONGSHAN	Operational	NO	Executive director	Directorship
4	Zhongshan Lijingwan Garden Development Co., Ltd.	Operational	NO	Supervisor	Directorship; Investment(50.00%)
5	Zhongshan Mingda Management Consulting Co., Ltd.	Operational	YES	Executive director and general manager	Directorship; Investment(100.00%)
6	Zhongshan Xinchuang Import & Export Co., Ltd.	Operational	NO	Executive director	Directorship
7	WINTIME IMPORT & EXPORT CORPORATION LIMITED OF ZHONGSHAN	Operational	NO	Executive director	Directorship; Investment(88.00%)
8	NEWAIR IMPORT & EXPORT CORPORATION LIMITED OF ZHONGSHAN	Operational	NO	Executive director	Directorship; Investment(90.00%)
9	SUNTIME TRADING LIMITED OF ZHONGSHAN	Operational	NO	Executive director	Directorship
10	ZHONGSHAN NEWECAN ENTERPRISE DEVELOPMENT CORPORATION LIMITED	Operational	NO	Executive director	Directorship; Investment(90.00%)
11	NEWTIME IMPORT & EXPORT CORPORATION LIMITED OF ZHONGSHAN	Operational	NO	Executive director	Directorship; Investment(90.00%)
12	ZHONGSHAN NEWTOPCAN TRADING CORPORATION LIMITED.	Operational	NO	Executive director	Directorship
13	NEWLINE IMPORT & EXPORT LIMITED OF ZHONGSHAN	Operational	NO	Executive director	Directorship; Investment(60.00%)
14	ZHONGSHAN NEWBEST IMPORT & EXPORT COMPANY LIMITED	Operational	NO	Executive director	Directorship
15	G-TECH SCIENCE & TECHNOLOGY CORPORATION LIMITED OF ZHONGSHAN	Operational	NO	Executive director	Directorship

Name (English)	SUNTIME IMPORT AND EXPORT TRADING LIMITED OF ZHONGSHAN
License Status	Operational
Name Of Legal Representative	Li Renfei
Registered Capital	CNY 300,000.00
Country	China
Registration No.	442000000362966
Unified Social Credit Code	91442000559174896H
Legal Form	Limited Liabilities Company
Position	Executive director
Date of Establishment	2010-08-04

Name (English)	Zhongshan Jinjian Customs Declaration Service Co., Ltd.
License Status	Operational
Name Of Legal Representative	Li Renfei
Registered Capital	CNY 100,000.00
Country	China
Registration No.	442000000182158
Unified Social Credit Code	91442000768423895T
Legal Form	Limited Liabilities Company
Share Holding	50,000.00
Currency Of Share Holding	CNY
% Ownership	50.00
Position	Executive director
Date of Establishment	2004-10-27

Name (English)	KINGDA IMPORT & EXPORT TRADING LIMITED OF ZHONGSHAN
License Status	Operational
Name Of Legal Representative	Cai Shuhui
Registered Capital	CNY 300,000.00
Country	China
Registration No.	442000001284203
Unified Social Credit Code	91442000MA4UKUTG8C
Legal Form	Limited Liabilities Company
Position	Executive director
Date of Establishment	2015-12-21

Name (English)	Zhongshan Lijingwan Garden Development Co., Ltd.
License Status	Operational
Name Of Legal Representative	Tan Hankun
Registered Capital	CNY 8,000,000.00
Country	China
Registration No.	442000000046352
Unified Social Credit Code	914420007211630296
Legal Form	Limited Liabilities Company
Share Holding	4,000,000.00
Currency Of Share Holding	CNY
Way of Investment	Capital
% Ownership	50.00
Position	Supervisor
Date of Establishment	2000-02-18

Name (English)	Zhongshan Mingda Management Consulting Co., Ltd.
License Status	Operational
Name Of Legal Representative	Huang Zhizhong
Registered Capital	CNY 300,000.00
Country	China
Registration No.	442000000545370
Unified Social Credit Code	91442000586392995X
Legal Form	Limited Liabilities Company
Share Holding	300,000.00
Currency Of Share Holding	CNY
% Ownership	100.00
Position	Executive director and general manager
Date of Establishment	2011-12-08

Name (English)	Zhongshan Xinchuang Import & Export Co., Ltd.
License Status	Operational
Name Of Legal Representative	Yuan Guangqiang
Registered Capital	CNY 300,000.00
Country	China
Registration No.	442000001467555
Unified Social Credit Code	91442000MA4UX1NN9G
Legal Form	Limited Liabilities Company
Position	Executive director
Date of Establishment	2016-10-31

Name (English)	WINTIME IMPORT & EXPORT CORPORATION LIMITED OF ZHONGSHAN
License Status	Operational
Name Of Legal Representative	Zhou Xiaoping
Registered Capital	CNY 300,000.00
Country	China
Registration No.	442000000314307
Unified Social Credit Code	91442000198071022W
Legal Form	Limited Liabilities Company
Share Holding	264,000.00
Currency Of Share Holding	CNY
Way of Investment	Capital
% Ownership	88.00
Position	Executive director
Date of Establishment	1987-08-29

Name (English)	NEWAIR IMPORT & EXPORT CORPORATION LIMITED OF ZHONGSHAN
License Status	Operational
Name Of Legal Representative	Zhang Ying
Registered Capital	CNY 300,000.00
Country	China
Registration No.	442000000222792
Unified Social Credit Code	914420006864441741
Legal Form	Limited Liabilities Company
Share Holding	270,000.00
Currency Of Share Holding	CNY
Way of Investment	Capital
% Ownership	90.00
Position	Executive director
Date of Establishment	2009-04-17

Name (English)	SUNTIME TRADING LIMITED OF ZHONGSHAN
License Status	Operational
Name Of Legal Representative	Li Renfei
Registered Capital	CNY 300,000.00
Country	China
Registration No.	442000001280597
Unified Social Credit Code	91442000MA4UKN9Y99
Legal Form	Limited Liabilities Company
Position	Executive director
Date of Establishment	2015-12-14

Name (English)	ZHONGSHAN NEWECAN ENTERPRISE DEVELOPMENT CORPORATION LIMITED
License Status	Operational
Name Of Legal Representative	Lin Qingsheng
Registered Capital	CNY 300,000.00
Country	China
Registration No.	442000000091014
Unified Social Credit Code	91442000749197917U
Legal Form	Limited Liabilities Company
Share Holding	270,000.00
Currency Of Share Holding	CNY
Way of Investment	Capital
% Ownership	90.00
Position	Executive director
Date of Establishment	2003-04-23

Name (English)	NEWTIME IMPORT & EXPORT CORPORATION LIMITED OF ZHONGSHAN
License Status	Operational
Name Of Legal Representative	Huang Jianqing
Registered Capital	CNY 300,000.00
Country	China
Registration No.	442000000167712
Unified Social Credit Code	91442000678851706Q
Legal Form	Limited Liabilities Company
Share Holding	270,000.00
Currency Of Share Holding	CNY
Way of Investment	Capital
% Ownership	90.00
Position	Executive director
Date of Establishment	2008-08-26

Name (English)	ZHONGSHAN NEWTOPCAN TRADING CORPORATION LIMITED.
License Status	Operational
Name Of Legal Representative	Wang Mingui
Registered Capital	CNY 300,000.00
Country	China
Registration No.	442000001346382
Unified Social Credit Code	91442000MA4UNWLB8K
Legal Form	Limited Liabilities Company
Position	Executive director
Date of Establishment	2016-04-25

Name (English)	NEWLINE IMPORT & EXPORT LIMITED OF ZHONGSHAN
License Status	Operational
Name Of Legal Representative	Zhou Xiaoping
Registered Capital	CNY 300,000.00
Country	China
Registration No.	442000000149211
Unified Social Credit Code	914420006770942646
Legal Form	Limited Liabilities Company
Share Holding	180,000.00
Currency Of Share Holding	CNY
Way of Investment	Capital
% Ownership	60.00
Position	Executive director
Date of Establishment	2008-07-08

Name (English)	ZHONGSHAN NEWBEST IMPORT & EXPORT COMPANY LIMITED
License Status	Operational
Name Of Legal Representative	Chen Xinhua
Registered Capital	CNY 300,000.00
Country	China
Registration No.	442000001369240
Unified Social Credit Code	91442000MA4UQ4L59J
Legal Form	Limited Liabilities Company
Position	Executive director
Date of Establishment	2016-05-27

Name (English)	G-TECH SCIENCE & TECHNOLOGY CORPORATION LIMITED OF ZHONGSHAN
License Status	Operational
Name Of Legal Representative	Ni Baojun
Registered Capital	CNY 1,500,000.00
Country	China
Registration No.	442000000017436
Unified Social Credit Code	91442000751067599A
Legal Form	Limited Liabilities Company
Position	Executive director
Date of Establishment	2003-05-28

MANAGEMENT

-	Name	Position	Gender
1	Huang Zhizhong	Executive Director; General Manager	Male

DIRECTORS AND SUPERVISORS

-	Name	Position	Gender
1	Huang Zhizhong	Executive Director; General Manager	Male
2	Huang Chunyan	Supervisor	-

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	WINTIME IMPORT & EXPORT TRADING LIMITED OF ZHONGSHAN
Government ID. / AIC Registration No.	914420006681830114
File No.	(2017) YUE 2071 Min Chu 12271
Position	Plaintiff
Hearing Court	First People's Court of Zhongshan City, Guangdong Province
Date Type	Delivery time
Date	2017-11-12

Name	WINTIME IMPORT & EXPORT TRADING LIMITED OF ZHONGSHAN
Government ID. / AIC Registration No.	914420006681830114
File No.	(2015) ZHONG Zhong Fa Min Yi Zhong Zi 1269
Position	Party Involved
Hearing Court	Intermediate People's Court of Zhongshan City, Guangdong Province
Date Type	Trial Date
Date	2015-09-23

Name	WINTIME IMPORT & EXPORT TRADING LIMITED OF ZHONGSHAN
Government ID. / AIC Registration No.	914420006681830114
File No.	(2014) ZHONG Yi Fa Min Yi Chu Zi 2507
Position	Defendant
Hearing Court	First People's Court of Zhongshan City, Guangdong Province
Date Type	Trial Date
Date	2014-11-19

CIVIL & COMMERCIAL JUDGMENT DOCUMENT

Name	WINTIME IMPORT & EXPORT TRADING LIMITED OF ZHONGSHAN
Government ID. / AIC Registration No.	914420006681830114
File No.	(2016) YUE 20 Min Zhong 4867
Hearing Court	Intermediate People's Court of Zhongshan City, Guangdong Province
Court Type	Intermediate people's court
Cause of Action	Contract dispute
Value	0
Position	Third people in the original trial
Date of Closing	2016-12-12

Name	WINTIME IMPORT & EXPORT TRADING LIMITED OF ZHONGSHAN
Government ID. / AIC Registration No.	914420006681830114
File No.	(2015) ZHONG Zhong Fa Min Yi Zhong Zi 1269
Hearing Court	Intermediate People's Court of Zhongshan City, Guangdong Province
Court Type	Intermediate people's court
Cause of Action	Unjust enrichment dispute
Value	0
Position	Appellor
Date of Closing	2016-02-26

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	Import and export agent
Products & Service	SC is mainly engaged in import and export agent. The company mainly provides goods export customs declaration, agent of handling letter of credit, agent of handling certificate of origin, exhibition and training, visa, export tax rebate, foreign exchange cancellation, foreign exchange settlement, booking, contacting transportation for customers, agent insurance and so on.

OPERATION FACILITIES

Business Address	Qianzuo Xinda Mansion, No. 23, Nan'an Road, Shiqi Dist, Zhongshan City, Guangdong Province(Office)
Tel	(86 760)88800988
Post code	528400
Environment	Urban area
Ownership	N/A
Traffic Condition	Convenient

SALES INFORMATION

Region	Products		Customer Type	Number of Customers	Payment Terms	Region	Percentage
Domestic	Trade agency service		Textile factories, hardware factories, food factories, traders, etc.	Above 10	Prompt payment; Credit payment	Guangdong Province, etc.	100
OTHER INFORMATION		SC's business is developed at home, mainly in Guangdong Province etc. Its main customers are textile factories, hardware factories, food factories, traders, etc. With years of operation, the company has certain customer resources. (There are high export values in SC's customs import and export records as the company provides export agent business for its customers.)

PURCHASE INFORMATION

Region	Main Products Purchased		Number of Suppliers	Payment Terms	Region	Percentage
Domestic	Office facilities, business services, etc		Above 10	Prompt payment; Credit payment	Guangdong Province, etc.	100
OTHER INFORMATION		SC's purchase business is developed at home, mainly in Guangdong Province, etc. Its main suppliers are manufacturers and traders of office supplies. (There are high import values in SC's customs import and export records as the company provides import agent business for its customers.)

MAJOR SUPPLIERS

-	Name	Legal Form	Country
1	Zhongshan Dima Sanitary Bathing Technology Co., Ltd.	Shares Limited Company (Unlisted)	China

Name (English)	Zhongshan Dima Sanitary Bathing Technology Co., Ltd.
Country	China
Legal Form	Shares Limited Company (Unlisted)

CREDIT RECORDS

-	Supplier Name	Product Supplied	Cooperation Period	Payment History
1	Zhongshan Dima Sanitary Bathing Technology Co., Ltd.	Shower room	-	Prompt

Name (English)	Zhongshan Dima Sanitary Bathing Technology Co., Ltd.
Country	China
Product Supplied	Shower room
Payment History	Prompt
Date of Interview	2018-05-21
Name of Interviewee	Lady (whose name was refused to be disclosed)
Tel	(86 760) 23404587
Comment	The above referee confirmed subject is one of the above company’s clients and subject made payment in time.

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	-		1359906	35	China
2	-		1364722	42	China

COPYRIGHT

-	Copyright Information	File No.	Classification
1	International trade customs system	2016SR059976	30200-0000

AUTHENTICATION INFORMATION

-	Certificate Category	Certificate No.	Issue Date	Expire Date	Status
1	Quality management system certification (ISO9000)	15714Q20042R0S	2014-09-03	2017-09-02	Valid

EXPORT/IMPORT PERMIT

EXPORT/IMPORT PERMIT

Yes

IMPORT / EXPORT DETAILS

2016 Import / Export Volume (USD 1,000)
Import Volume	Export Volume
1,466	183,315

2016 Importing Regions (USD 1,000)
Importing Regions	Import Volume
Colombia	79
Other countries	145
Hong Kong	334
Australia	132
U.S.A	93

2016 Exporting Regions (USD 1,000)
Exporting Regions	Export Volume
Germany	7,410
UK	7,304
Other countries	118,074
U.S.A	27,373
Malaysia	15,536
Russian Federation	7,618

2016 Imported Products (USD 1,000)
Imported Products	Import Volume
Other woven fabrics, containing by weight 5% or more of elastomeric yarn or rubber thread	239
Other dyed knitwear or hook knit fabrics made of cotton	192
Other dyed knitted fabrics or knitted fabrics made of synthetic fibres.	221
Various labels printed on paper or cardboard	370
Other	322
Chemical fiber lace	122

2016 Exported Products (USD 1,000)
Exported Products	Export Volume
Lithiumion	15,899
Chandeliers and other electric ceiling or wall lighting fittings,excluding those of a kind used for lighting public open spaces or thoroughfares	12,669
Roaster oven	9,638
Other ovens( including cooking plates, boiling rings and roasters	9,484
Other eletrothermic apparatus	8,962
Other	126,663

2015 Import / Export Volume (USD 1,000)
Import Volume	Export Volume
1,585	392,260

2015 Importing Regions (USD 1,000)
Importing Regions	Import Volume
Taiwan	508
South Korea	86
U.S.A	50
Hong Kong	46
Other countries	57

2015 Exporting Regions (USD 1,000)
Exporting Regions	Export Volume
U.S.A	44,422
India	20,822
Hong Kong	18,595
Thailand	17,516
Brazil	15,510
Other countries	275,395

2015 Imported Products (USD 1,000)
Imported Products	Import Volume
Other dyed knitted fabrics or knitted fabrics made of synthetic fibres.	513
Other dyed knitwear or hook knit fabrics made of cotton	418
Other	100
Other woven fabrics, containing by weight 5% or more of elastomeric yarn or rubber thread	77
Other	318
Other yarn dyed knitted fabrics or knitted fabrics made of synthetic fibres	159

2015 Exported Products (USD 1,000)
Exported Products	Export Volume
Roaster oven	27,511
Chandeliers and other electric ceiling or wall lighting fittings,excluding those of a kind used for lighting public open spaces or thoroughfares	22,401
Other eletrothermic apparatus	21,873
Other ovens( including cooking plates, boiling rings and roasters	16,412
Other electric lamps and lighting fittings	14,515
Other	289,548

EMPLOYEE

Employee Number	200
OTHER INFORMATION	SC's staff confirmed the above employee number.

WEBSITES

-	Website	Name	File No	Registrant
1	www.chinawintime.com	WINTIME IMPORT & EXPORT TRADING LIMITED OF ZHONGSHAN	-	-

Website	www.chinawintime.com
Country	China
Status	Operational
Name	WINTIME IMPORT & EXPORT TRADING LIMITED OF ZHONGSHAN
Sponsor Name	WINTIME IMPORT & EXPORT TRADING LIMITED OF ZHONGSHAN
Hosted By	Enterprise

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.

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.

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	2016-12-31	2017-12-31
Report Type	Annual Report	Annual Report
Statement Type	Individual	Individual
Source	AIC	AIC
Audited or Not	Unknown	Unknown
Total Assets	135,664	51,933
Liabilities
Year	2016-12-31	2017-12-31
Total Liabilities	126,444	43,242
Total Owner’s Equity	9,220	8,691
Total Liabilities and Owner's Equity	135,664	51,933

Income Statement
Year	2016-12-31	2017-12-31
Operating Income	1,565,105	686,766
Total Profit	612	5
Income Tax	153	180
Net Profit	459	-175

GROWTH RATE OF MAJOR FINANCIAL

	2016	Growth(%)	2017
Operating Income	1,565,105	-56.12	686,766
Total Assets	135,664	-61.72	51,933
Total Profit	612	-99.18	5
Net Profit	459	-138.13	-175
Total Liabilities	126,444	-65.80	43,242
Total Owner’s Equity	9,220	-5.74	8,691

IMPORTANT RATIO

Profitability	2016	2017
Return on net assets (%)	4.98	-2.01
Return on total assets (%)	0.34	-0.34
Net profit margin (%)	0.03	-0.03
Operation capacity	2016	2017
Turnover of total assets	11.54	13.22
Solvency	2016	2017
Liabilities to assets ratio (%)	93.20	83.26
Development capacity	2016	2017
Yearly Growth of Operating Income (%)	-	-56.12
Yearly growth of total assets (%)	-	-61.72

FINANCIALS & ANALYSIS

Financial Note

1. SC’s detailed financial information of 2017 and 2016 is unavailable through all available channels. Subject’s staff was contacted but declined to provide relevant financial information. Only subject’s financial summaries of 2017 and 2016 obtained from AIC source are provided for client’s reference. 2. Subject’s operating income of 2017 decreased greatly from that of 2016 as its business was developed poorly in 2017 and the decreased business volume led to decreased operating income.

INDUSTRY INFORMATION

INDUSTRY CODE

SIC (China)	5181,Trade Agent 【Major】
ISIC	4610,Wholesale on a fee or contract basis
NACE	46.1,Wholesale on a fee or contract basis

INDUSTRY FINANCIAL AVERAGE

-	2016	Subject	Best(10%)	Average	Worst(10%)
Solvency	Liabilities to Assets Ratio (%)	93.20	58.75	68.72	100.06
	Current ratio	-	2.11	1.25	0.65
	Quick ratio	-	1.31	0.79	0.40
Development Capacity	Yearly Growth of Operating Income (%)	-	21.87	5.24	-14.90
	Yearly Growth of Gross Profit (%)	-	22.76	4.89	-19.01
	Yearly Growth of Total Assets (%)	-	20.11	7.68	-21.12
Profitability	Return on net assets (%)	4.98	14.11	6.72	-10.56
	Return on total assets (%)	0.34	7.41	3.26	-8.00
	Gross profit margin (%)	-	13.32	2.88	0.18
Operation Capacity	Turnover of total assets	11.54	3.70	1.48	0.28
	Turnover of current assets	-	6.44	2.88	1.10
	Turnover days of account receivable	-	16.16	30.95	111.18

FOREIGN EXCHANGE RATES

Currency	Unit	Indian Rupees
US Dollar	1	INR 68.21
UK Pound	1	INR 91.43
Euro	1	INR 80.24
CNY	1	INR 10.71

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

INFORMATION DETAILS

Analysis Done by :	PRI
Report Prepared by :	TPT

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)

PRIVATE & CONFIDENTIAL : This information is provided to you at your request, you having employed MIPL for such purpose. You will use the information as aid only in determining the propriety of giving credit and generally as an aid to your business and for no other purpose. You will hold the information in strict confidence, and shall not reveal it or make it known to the subject persons, firms or corporations or to any other. MIPL does not warrant the correctness of the information as you hold it free of any liability whatsoever. You will be liable to and indemnify MIPL for any loss, damage or expense, occasioned by your breach or non observance of any one, or more of these conditions

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